Central Group eyes Casino’s units in Thailand, Vietnam
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Thailand’s largest retail conglomerate Central Group is keen to bid for Casino Group’s Thai and Vietnam operations, a company executive said.
Casino owns 58.6% of Big C Supercenter Plc, which has a total a market value of $5.5 billion. Casino said last week it was keen to sell this stake after announcing it would sell its Vietnam unit in the first quarter.
“We are interested in both Big C in Thailand and Vietnam,” Prin Chirathivat, deputy chief executive officer.
“If the prices are not too expensive, we will be keen to bid,” Mr Prin said adding his family, the Chirathivats, has a combined 25% stake in Big C.
Central has been actively looking to buy assets overseas as it wants to expand into Southeast Asia and Europe.
Questions & Answers
Q.Which specific assets is Central Group interested in acquiring from Casino Group?
Which specific assets is Central Group interested in acquiring from Casino Group?
Central Group is interested in acquiring Casino Group's Thai operations, specifically Big C Supercenter Plc, and its Vietnam unit. Prin Chirathivat confirmed their keenness to bid for both if the prices are reasonable.
Q.What is the total market value of Big C Supercenter Plc, the company Central Group wants to buy in Thailand?
What is the total market value of Big C Supercenter Plc, the company Central Group wants to buy in Thailand?
Big C Supercenter Plc, which Casino Group owns a majority stake in, has a total market value of $5.5 billion. Central Group's deputy CEO expressed interest in bidding for this asset.
Q.What is the stated reason for Central Group's interest in acquiring overseas assets like Casino's units?
What is the stated reason for Central Group's interest in acquiring overseas assets like Casino's units?
Central Group is actively looking to buy assets abroad as part of its strategy to expand its presence within Southeast Asia and also into European markets. This move aligns with their broader growth ambitions.
Q.Does Central Group already have any existing stake in Big C Supercenter Plc?
Does Central Group already have any existing stake in Big C Supercenter Plc?
Yes, the Chirathivat family, who own Central Group, already holds a combined 25% stake in Big C Supercenter Plc. This existing ownership may influence their interest in acquiring a larger share.
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