Vietnam Firm Eyes Big C Thang Long Buyout

Tuan Minh

15:44 07/04/2016

BizLIVE - Thang Long GTC Co. has offered to acquire the 65% stake that Casino Group holds in Big C Thang Long to wholly own the supermarket.

Vietnam Firm Eyes Big C Thang Long Buyout

A view Big C Thang Long in Cau Giay district, Hanoi.

Hanoi-based Thang Long GTC Joint Stock Company has offered to purchase the 65% stake that Vindemia SAS Co., a subsidiary of French grocery store Casino Group, holds in Big C Thang Long Supermarket International Trade and Service Company, local media reported.
Big C Thang Long Supermarket International Trade and Service Company, which runs the biggest Big C outlet in Hanoi, is a joint venture with a registered capital of $30 million, in which Thang Long GTC holds a 35% stake and Casino Group takes the rest.
If the deal is struck, Thang Long GTC will wholly own the supermarket.
Casino Group will decide on the deal by the end of this month.
Thang Long GTC went public in August 2015, selling a 55% stake to the public, including a 25% stake to a subsidiary of private-run BRG Group.
Thang Long GTC currently holds the land use right in a number of prime locations, including Big C Thang Long, Pan Horizon Hotel, InterContinental Hanoi Westlake, and Hilton Hanoi Opera Hotel. It also develops Eastin Easy GTC hotel chain.

TUAN MINH

Từ khóa: Big C, Casino Group

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