April 30, 2018 / 11:58 AM / 25 days ago

Brazil govt plans to raise $2.7 billion via real estate selloff: paper

SAO PAULO, April 30 (Reuters) - Brazil’s government will sell the minority stake it holds in 276,000 pieces of real estate spread throughout the country in a process it projects will bring in 9.3 billion reais ($2.69 billion), a newspaper said on Monday.

Citing an official in the country’s Planning Ministry, O Estado de S. Paulo newspaper said offices, condominiums, and commercial and industrial buildings will be among the assets sold.

The government plans to sell 1.4 billion reais worth of real estate in the state of Sao Paulo alone, and will kick off the process in June with sales of stakes it holds in Alphaville, a high-end residential area just outside the city of Sao Paulo.

“What we can sell, we’re going to sell,” Sidrack de Oliveira Correia, secretary of state assets at the Planning Ministry, told the paper.

The ministry did not immediately respond to a request for confirmation and additional information regarding the asset sales.

($1 = 3.46 reais)

Reporting by Gram Slattery Editing by Frances Kerry

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