French retailer Carrefour SA will collect the first round of bids for its assets in Singapore, Thailand and Malaysia today, in a deal valued at around US1bn, the Wall Street Journal (WSJ) reports.
Rival Tesco PLC is seen as a leading contender for the assets, sources told the journal. And France's Casino and Japan's Aeon are also expected to submit an offer.
The purchase would almost triple Aeon's outlets in the three South East Asian nations, Reuters said. Aeon operates 27 Malaysian stores and 11 outlets in Thailand. In 2005, Aeon took over Carrefour's operations in Japan.
Other bidders include Dairy Farm International Holdings, which has teamed up with its parent, Jardine Matheson Holdings Ltd, in the auction, the WSJ said. The auction is expected to continue for the rest of the year before a winner is announced.
Carrefour may sell all the assets to one bidder or sell them piecemail, the journal said.
