FRENCH mass retailer Casino Group, the operator of the Big C hypermarket chain in Vietnam and Thailand, is looking to sell off its struggling operations in Vietnam, consisting of 32 supermarkets and 10 convenience stores.
Casino Group entered the Vietnamese market in 1998. The group is tagging the sales price of its Vietnam’s business at an estimated US$813 million.
Recently, German Metro also exited the country.
Two Thai groups, Berli Jucker and the Central Group, have expressed interest in acquiring the Big C hypermarket chain in Vietnam.
Berli Jucker, the flagship company of Thai tycoon Charoen Sirivadhanabhakdi’s TCC Group, has been expressing interest in overseas assets in a bid to offset weak domestic demand.
According to Reuters, the Chirathivat family’s Central Group, one of Thailand’s leading conglomerates, has been planning to expand in Vietnam. It currently operates in the country through its unit Robinson Department Store.