A Big C supermarket in Ho Chi Minh City. (Photo: Internet)
France-based Casino Group, a mass retailer with operations around the world, has said that it could sell the group’s operations in Vietnam, part of a deleveraging plan above EUR2 billion in 2016.
“The disposals of non-core assets include in particular the project to sell the Group’s operations in Vietnam,” the group said in a press release on Dec. 15.
Casino Group will continue to focus on its growth strategy in its key markets in France, Latin America and Asia around buoyant assets, it added.
Casino Group, which owns 32 Big C
-brand supermarkets across Vietnam and 10 convenience stores in Ho Chi Minh City, is the second largest consumer retailer in Vietnam, after Vietnamese Co.op Mart
Big C’s sales reached $534 million in 2014, up 7% from 2013, becoming the top 500 retailers in the Asia-Pacific region, together with four other Vietnamese companies namely Co.op Mart, Nguyen Kim Trading JSC, Saigon Jewelry and Mobile World.
In late 2014, Germany’s Metro Cash & Carry planned to sell its Vietnam operations to Thailand’s Berli Jucker at a price of $879 million. However, the deal is yet to be completed.