UK Group Tesco and pan-Asian retailer Dairy Farm have made second-round bids for Carrefour’s South East Asian assets, estimated to be worth US$1bn, Reuters has reported.
Carrefour had placed a 5 November deadline on second-round bids for its South East Asian assets, consisting of outlets in Malaysia, Singapore and Thailand, reported the news agency.
One auction will be held for Carrefour’s Thai assets, and another for its assets in Singapore and Malaysia.
Reuters added that Dairy Farm was only interested in Carrefour’s Singapore and Malaysian interests, while Tesco was interested in most of the assets on sale.
Sources had previously told Reuters both Japanese retailer Aeon and Malaysian private equity fund Nevis Capital would also bid for the Malaysian and Singapore assets.
French-owned retailer Casino Group, which operates under the Big C banner in Thailand, Thai retailer Berli Jucker, and Thailand’s Central Group, which runs the Tops supermarket chain, were expected to make bids for Carrefour’s assets in Thailand, another source told Reuters.
