Standard Chartered Private Equity eying two supermarkets in China
Standard Chartered Private Equity has been named as one of the potential bidders for two PRC retail assets, including an 80% stake in Joindoor Hypermarket, a supermarket chain based in Hunan province with about 110 outlets across the region, and 100% of Whacko Supermarket, also based in Hunan province.
The two supermarkets are held by Global Mart Ltd., an Australian-incorporated Chinese retailing business operator struggling under debts of around $75 million and under pressure to repay lenders. The deal...
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