Thursday, September 2, 2010

Carrefour's exit from the market Singapore, Malaysia, and Thailand


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HONGKONG, - Retailers from Europe and Southeast Asia are now scrambling to offer a number of Carrefour's assets worth 1 billion U.S. dollars with the first offering will end on Wednesday (1/9/2010). Carrefour has decided to exit the market in Singapore, Malaysia and Thailand also intends to focus on key markets, namely to become a leader in the hypermarket.

"Until this moment it is unclear whether these sales were a package deal with an asset or assets will be sold separately," said a source who knows exactly with the decision of the European origin of these giant retailers. According to these sources, prefer Carrefour buyers who come to the lure and bought three assets as well. "Sellers are thus certainly liked the scheme," he said.

French retailer, Casino Guichard Perrachon SA and Singapore-based retailer, Dairy Farm International Holdings Ltd, was mentioned as a company is offering for Carrefour. That said, the two companies are already getting advice from investment banking team regarding their intention to wrap Carrefour assets.

Other companies are interested in Carrefour's assets are British Tesco Plc, Berli Jucker Pcl, Thailand, and Thailand's biggest energy company, PTT Pcl.

Several strategic buyer can expect to strengthen their positions in three markets in Southeast Asia due to the increased purchasing power amid growing economy.

Until now, both are interested in retailers Carrefour and Carrefour declined to comment property. In addition, the source was reluctant to proclaim the news when his name appeared in the media because it will be sensitive to the auction process.

The source also explained, Carrefour's sales share of these assets into two parts, Singapore and Malaysia in one package and Thiland sold separately. In the release of this outlet, Goldman Sachs Group Inc. acted as advisor to Carrefour.

In Asia, Carrefour has a total of 626 stores with more than two-thirds of which is in China, 76 stores in Indonesia, 19 outlets in Malaysia, two stores in Singapore and 40 outlets in Thailand, including 39 hypermarkets.

Last year, Carrefour's sales in Asia reached 85.9 billion euros or 111 billion U.S. dollars. (Reuters / Femi Adi Soempeno / cash)

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