The FT reports that Carrefour is planning to pull out of Thailand, M’sia and S’pore.
The pull-out is in its early stages. Carrefour is talking to bankers but has yet to decide how to proceed and, according to one person familiar with the situation, there have been no serious discussions yet with potential buyers …
Tesco, the UK retailer, is regarded as the most likely trade bidder for the Malaysia and Singapore assets, but Dairy Farm, the Singapore-listed retailer and Aeon, the Japanese retail group, could be interested.
Potential private equity bidders include CVC and Navis Capital, the Malaysia-based group. NTUC Fairprice of Singapore, which runs a supermarket chain, is seen as a potential buyer for the Singapore and Malaysia businesses, if they were to be sold separately.
Tesco is also a top contender for Thailand as is France’s Casino group. These two chains are the biggest in the country. Neither would comment.