Retail in Asia

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Rivals circling Carrefour’s SE Asia operations

A bidding war is heating up for Carrefour’s supermarkets in Thailand, Malaysia and Singapore as the French retail giant plans to exit the countries after failing to take a dominant position in the region.

Carrefour, the world’s second biggest retailer behind US giant Walmart, is looking to unload its 43 Thai, 23 Malaysian and two Singaporean hypermarkets in a sale some estimates suggest could net USD1 billion.

Potential buyers are circling, with a second round of bidding expected by November.

(Source: Jakarta Globe)