February 18, 2015 / 1:17 PM / 3 years ago

Brazil tycoon Diniz seeks $706 mln from property sale -sources

SAO PAULO, Feb 18 (Reuters) - Brazilian billionaire Abilio Diniz is considering selling a large portfolio of commercial properties for about 2 billion reais ($706 million), a move that would give him extra firepower to ramp up his investment in France’s Carrefour SA, two sources with direct knowledge of the plans said.

Península Participações, the investment vehicle overseeing Diniz’s fortune, has discussed the sale of 62 supermarkets with the Canada Pension Plan Investment Board, Brookfield Asset Management Inc and BR Properties SA, said the first source, who requested anonymity because the talks remain private.

A spokeswoman for Península told Reuters on Wednesday that the São Paulo-based investment firm had no plans to sell the stores. CPPIB and BR Properties declined to comment. Efforts to reach Brookfield were unsuccessful.

$1 = 2.834 Brazilian reais Reporting by Guillermo Parra-Bernal; Editing by Lisa Von Ahn

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