SAO PAULO, Aug 17 (Reuters) - Brazilian retailer GPA said on Wednesday it had reached a deal with financial institutions to secure around 2 billion reais ($387.15 million) in receivables related to the sale of 70 of its locations to wholesaler Assai.

GPA said it will receive the amount in up to three tranches throughout the third quarter of 2022. ($1 = 5.1660 reais) (Reporting by Peter Frontini and Carolina Pulice Editing by Chris Reese)