Navis makes it to second round of Carrefour Southeast Asia bid
Navis Capital Partners is reportedly among the shortlisted contenders for French hypermarket chain Carrefour’s Southeast Asian operations, coming after Carrefour narrowed the field of bidders for its assets, which could draw up to $1 billion.
Carrefour is said to be finalizing second-round bids by Nov 5th. Among the bidders are retailers including Jardine Group-backed Dairy Farm, owner of Southeast Asia chain Cold Storage; Japanese group Aeon; the UK's Tesco Plc.; and Groupe Casino from France. Reports further note that Thai group Berli Jucker Pcl. and power conglomerate PTT Pcl. may also have moved to the second round, and may look to exclusively buy Carrefour's Thai assets.
Earlier this month, Navis was pegged as leading a consortium of contenders, though the group is said to only be looking to buy Carrefour's assets in Singapore and Malaysia. As Carrefour has 40 stores in Thailand, 23 in Malaysia and two in Singapore, according to its website, the company may split the business between two buyers, one for its Singaporean and Malaysian assets, and a second for its Thai business. Reports suggest that Dairy Farm may also be eyeying Carrefour's Singaporean and Malaysian shops.
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