A Big C outlet in Vietnam. (Photo: Internet)
South Korea’s Lotte Shopping is pulling out of French retailer Casino Group
’s auction of the latter’s Big C
Vietnam supermarket chain, Reuters cited people familiar with the matter as saying.
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, TCC Holding Co, and Japan’s Aeon
The sale could fetch about $1 billion, people familiar with the matter have said.
Last month, one person close to the matter said that Casino had received more than 10 offers for the sale of its interests in Vietnam, with some of them valuing the business more than one billion euro ($1.11 billion). The final round of bids for Big C Vietnam is due in this week.
Vietnamese retailer Co.opmart has qualified for the second-round bid, according to local media.