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French Retailer Carrefour Has Attracted More Than 10 Buyers.

2010/9/3 17:54:00 91

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According to the financial times Kevin, Brown and Singapore reported that last night, France

Retailer

Carrefour has attracted more than 10 bidders for its first round of auction in Southeast Asian assets.

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Apart from the world's third largest supermarket chain, Tesco, the auction house also includes several other large non Asian retailers, several private Holdings Company, and several local retailers in Singapore and Thailand, according to people familiar with the auction.

However, as of last night, Carrefour has not yet received a bid from WAL-MART, the world's largest retailer (Walmart).

WAL-MART has said Southeast Asia is its potential expansion area.

A person close to the paction said that although the deadline for submitting the bid was not yet over, it was not expected that WAL-MART would participate in the bidding.

The confirmed bidder, including Dairy Farm, is a Singapore retail group, with Giant brands and Cold Storage in Southeast Asia.

Aeon, the second largest retail group in Japan, and Casino, another French retailer, are also considered to remain in the competition. (Casino)

AEON declined to comment.

In the first round of the auction, the lineup of the bidders is so powerful that it means the second largest retailing in the world.

Carrefour

There is a great opportunity to sell its 61 stores in Thailand, Malaysia and Singapore at a target price of 800 million to 1 billion dollars.

It is reported that there are some hopes in the bidders

Buy

All of these stores are targeted at 40 supermarkets in Thailand or 19 supermarkets in Malaysia and two in Singapore.

Tesco is a market leader in Thailand and Malaysia, accounting for 13% and 10% of the market share respectively, and is believed to have offered to buy all the assets that are available for sale at Carrefour.

Tesco declined to comment on the auction.

The auction was promoted by Lars Olofsson, the chief executive of Carrefour.

He decided to redeploy resources from this retail business to a leader's market and redeploy to the company that has already been or is planning to become the number one market.

However, the French retailer does not intend to abandon Asia altogether - the auction does not involve its considerable business in China, which accounts for nearly 70% of Carrefour stores in Asia.

Carrefour will not withdraw from Indonesia and Taiwan.

Last year, Asia contributed 8% to Carrefour's sales of 86 billion euros ($110 billion).

A person who knows the deal said that once the bankers passed the details of the bid, Carrefour will hold the next Asian asset auction, and the date has not yet been determined.

Goldman Sachs (Goldman Sachs) and UBS (UBS) acted as Carrefour consultants, while Casino advices from Deutsche Bank.

None of these banks commented on this.