ASEAN KEY DESTINATIONS
PTT bids for Carrefour
PTT will bid solo in the initial stage, but may take on interested partners to join in the next stage.
Mr. Prasert said PTT Retail Management (PTTRM), the operator of Jiffy retail outlets at Jet petrol stations, was the bidder for Carrefour's assets.
"If we can acquire Carrefour's assets, Jet will have a larger scale and gain more bargaining power," he said.
In the future, Jiffy is expected to expand outside of petrol stations with the retail brands Jiffy Mart and Jiffy Food.
Carrefour has offered to sell its assets in Thailand, Singapore and Malaysia, worth an estimated $1 billion. It is leaving Southeast Asia to focus on markets with more growth potential such as India and China.
The race has drawn international retailers such as France's Casino and Britain's Tesco as well as regional players such as Dairy Farm, which owns the Giant and Cold Storage chains in Asean. Also, Japan's second-largest retail group, Aeon, has joined the race to acquire Carrefour's 40 stores in Thailand, 19 in Malaysia and two in Singapore, which would almost triple Aeon's size in the three countries to 99 stores.
Aeon will make one bid for the Malaysian and Singapore stores, and a separate bid for Thailand, according to an anonymous source.
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