CPP Investments partially exited its holdings in Brazilian mall operator Allos and fashion retailer Azzas through a BRL1 billion block trade, demonstrating confidence in the retail sector's growth potential.

Information on the Target

The target of this transaction is Allos, a prominent mall operator in Brazil, alongside Azzas, a leading fashion retailer. Allos boasts a diversified portfolio of shopping centers that attract millions of visitors annually, while Azzas has established a strong presence in the Brazilian fashion market, known for its unique offerings and brand appeal. Together, both entities represent significant assets within Brazil's retail and commercial real estate sectors.

This partial exit by CPP Investments illustrates the confidence in both companies' market positions as well as the potential for further development in the Brazilian retail space.

Industry Overview in Brazil

The retail industry in Brazil is a booming sector, characterized by its resilience and adaptability. As the largest economy in Latin America, Brazil's consumer market benefits from a growing middle class, increasing disposable income