Thailand's Central Group eyes Casino's units in Thailand, Viet Nam
Thailand's Central Group eyes Casino's units in Thailand, Viet Nam
Thailand's largest retailer Central Group is keen to acquire Casino Group's Thai and Vietnam operations, Reuters quoted an official of Central Group.
"We are interested in Big C in both Thailand and Vietnam," Prin Chirathivat, deputy chief executive officer, told Reuters.
"If the prices are not too expensive, we will be keen to bid," Prin said, adding his Chirathivat family, the second wealthiest family in Thailand, has a combined 25 percent stake in Thailand's Big C Supercenter Pcl.
Casino Group plans to sell its Big C supermarket chain in Viet Nam as it seeks to strengthen its financial flexibility by selling assets in Viet Nam, as well as Thailand and Colombia, the French retailer said in a release on last December.
In 2016, it hopes to carry out a deleveraging plan worth more than two billion euros (US$2.2 billion) mainly through real estate transactions and disposal of non-core assets, including its operations in Viet Nam, consisting of 32 Big C outlets.
Central Group has been actively looking to buy assets overseas as it wants to expand its business into Southeast Asian and European market.
On January 2015, Central Group through its subsidiary Power Buy, acquired a 49 per cent stake in NTK New Solution and Technology Development Investment Joint Stock Co, which owns Nguyen Kim, a major Vietnamese electronics mall.
In Viet Nam, Central Group is also known by its series of Robins shopping malls in Ha Noi and HCM City.
Previously, Thailand's Berli Jucker Pcl, a business of TCC Group, which controlled by Thai billionaire Charoen Sirivadhanabhakdi, said the Big C supermarket in Viet Nam is one of the company's acquisition targets, according to Reuters.
Berli is keen to expand in fast-growing markets in Southeast Asia, including Cambodia, Laos, Myanmar and Vietnam, Nutt-hathai Thanachairunsiri, assistant vice president for investor relations, told Reuters on January 15.
