Big C Vietnam sale rumors untrue: report

Thanh Nien News

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A Big C supermarket in Vietnam. Photo: Nhu Binh/Tuoi Tre A Big C supermarket in Vietnam. Photo: Nhu Binh/Tuoi Tre


French retail group Casino has not sold its Vietnam operations to Thai tycoon Charoen Sirivadhananbhakdi's TCC Group as rumored, Tuoi Tre newspaper quoted unnamed inside sources as saying.
The report said Casino is still looking for a buyer.
There have been claims that Casino sold Big C Vietnam to TCC after agreeing to sell its majority stake in Thai hypermarket operator Big C Supercenter for 3.1 billion euros excluding debt (US$3.5 billion) to the Thai group.
Big C Vietnam, which bankers have valued at between $800 million and $1 billion, has caught the eye of Singapore's Dairy Farm International Holdings, South Korea's Lotte Shopping, and Japanese retail conglomerate Aeon Co Ltd, Reuters reported.
Bids for the Vietnam unit are due in late February, the British newswire quoted an unidentified source as saying.
TCC last month wrapped up the purchase of Metro AG’s Cash & Carry wholesale business in Vietnam for 655 million euros ($700 million).
If Big C Vietnam is sold to TCC, the Thai group will surpass Saigon Coop to become the largest retailer in Vietnam.

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