on 15/03 : Reuters
Casino plans to seek second-round bids for Big C Vietnam – report : UPDATE
Casino plans to seek second-round bids for Big C Vietnam – report : UPDATE
[Subsequent to publication, the text has been changed to include an updated report by the newswire. ]
CasinoGuichard-Perrachon, a French retailer, is soon planning to seek second-round bids for its Big C chain of grocery stores in Vietnam, a newswire reported.
Bloomberg, citing unidentified individuals, wrote that Casino aims to ask for binding offers in the coming weeks, the report continued that Japan-based Aeon was among the several parties that submitted first-round bids.
It was noted that some of the bids that were submitted, values north of USD 800m.
Other reported bidders for the business include Thailand's TCC, owned by billionaire Charoen Sirivadhanabhakdi, and Central Group, and South Korea's Lotte Group.
Casino, which is divesting assets to help cut debt, agreed last month to sell its stake in Big C in Thailand for EUR 3.1bn (excluding debt) to TCC.