Carrefour set to sell Southeast Asia assets

The process is in its earliest stages and Carrefour is working with Goldman Sachs and UBS to manage the auction. Both corporate and private equity investors are expected to participate in the bidding process, reports note, which may begin as early as September. The retailer aims to garner $800 million to $1 billion for its collective Southeast Asian assets; however Carrefour would consider selling its market-specific stores separately pending interest. Reports value Carrefour's Thai business as much as $600 million, while the Malaysian and Singapore operations may be worth $400 million.

According to the company, Carrefour has 39 hypermarket stores in Thailand, 20 in Malaysia and two in Singapore. The company additionally has operations in China and Indonesia - its two largest markets in Asia Pacific - which it plans to keep.

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• Topics
• Southeast Asia
• Consumer