Berli Jucker coveted assets Carrefour Thailand
- on 07.21.10
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The Thai Berli Jucker main conglomerate said Wednesday he was keen to bid for Carrefour's local activities within the framework of its development.
"We expect the details of the tender of Carrefour, said Asavin Techacharoenvikun, CEO of Berli Jucker reporters.
Carrefour has already indicated its desire to separate its operations in Malaysia, Singapore and Thailand.
The French distributor was unavailable for comment.
Around 8:40 GMT, the title took 1.46% to 35.025 euros, evolving in line with the sector index (1.45%).
Carrefour has already left several Asian countries, Japan and South Korea for example, focus on the penetration of states have experienced rapid growth as India and China.
According to sources close to the situation contacted by Reuters, a first round of bidding should take place in September.
Bankers expect to see at least four or five bids for the assets that the French want to sell in the region.Groups of capital may also be interested but it is more likely that the development is won by a strategic buyer.
"This is an area difficult to manage," he told Reuters leader of a group of private equity.
Dairy Farm, listed on the Singapore Stock Exchange and Tesco could be part of potential buyers, said sources familiar with the matter.
Neither Tesco or Dairy Farm have agreed to comment on this information.
Asia in 2009 accounted for 7.9% of 85.9 billion euros in worldwide sales made by Carrefour and Thailand has contributed 9.1% of sales of Asian French.
The Thai broker Phillip Securities said that Carrefour's local assets could be sold between 16 and 19 billion baht (380 to 450 million euros).
In total, the French retailer has 626 outlets in Asia, including 424 in China.
It has 76 stores in Indonesia, 65 in Taiwan, 19 in Malaysia, 40 in Thailand and two in Singapore.
His presence on the territory of Thailand is approximately 2% of the retail market, behind CP ALL, Tesco and Big C Supercenter, in which French Casino has an interest.
Sources have told Reuters that BIG C, second supermarket operator in Thailand, could make a bid, but the group refused to comment on this information.
The Australian Woolworths could also take a look at Carrefour's assets but its direction does not seem inclined to buy them.