Taiwan-based retail chain RT-Mart has announced plans to merge with French retail group Auchan, with the two launching a possible IPO in Hong Kong in 2010, according to China Retail News.
RT-Mart’s owner, Ruentex Group, revealed that the two parties were still in the negotiation process and that, should a deal be made, cooperation would be restricted to mainland China, excluding Taiwan.
China Retail News reported that RT-Mart planned to maintain its expansion rate throughout 2009 and would open 14 new stores before the end of the year.
