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Lotte Shopping to pull out from auction of Casino's Vietnam retail chain: sources

Apr 20th at 13:54
20-04-2016 13:54:59+07:00

Lotte Shopping to pull out from auction of Casino's Vietnam retail chain: sources

South Korea's Lotte Shopping is pulling out of French retailer Casino's auction of its Big C Vietnam supermarket chain, people familiar with the matter said on Tuesday.

 

A spokesman for Lotte Group, which controls Lotte Shopping, declined to comment. There was no immediate comment from Casino.

One of the sources said that Lotte was not keen to bid aggressively for Big C Vietnam, which has attracted companies including Thailand's Central Group. The sale could fetch about $1 billion, people familiar with the matter have said.

The sources declined to be identified as the information was not public.

Last month, one person close to the matter said that Casino had received more than ten offers for the sale of its interests in Vietnam.

The final round of bids for Big C Vietnam is due in this week, according to people familiar with the situation.

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