Brazil's BR Malls in talks with Ancar Ivanhoe for portfolio combination

SAO PAULO, Feb 9 (Reuters) - Brazilian shopping mall operator BR Malls Participacoes SA said late on Tuesday it has entered talks with Ancar Ivanhoe over a possible combination of assets, after rejecting a merger offer from Aliansce Sonae earlier this year.

BR Malls said in a securities filing the talks were still preliminary and there was no definition yet on the terms and conditions for a potential deal, including which assets would be involved and any valuation.

The company said it "regularly evaluates acquisition and consolidation opportunities with different players in the sector, focusing on generating value for its shareholders."

Newspaper Valor Economico reported on Monday that BR Malls was looking to absorb five or six shopping malls that would be spun-off from Ancar's portfolio under the deal.

Ancar is controlled by Canadian real estate investor Ivanhoe Cambridge.

(Reporting by Gabriel Araujo, Editing by Louise Heavens)