Thai Central says keen to bid for 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 percent of Big C Supercenter Pcl, 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 told Reuters.
“If the prices are not too expensive, we will be keen to bid,” Prin said adding his family, the Chirathivats, has a combined 25 percent 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 units of Casino Group is Central Group interested in acquiring?
Which specific units of Casino Group is Central Group interested in acquiring?
Central Group is keen to bid for Casino Group's operations in Thailand and Vietnam. Specifically, they are interested in Big C in Thailand and Casino's Vietnam unit, which Casino announced it would sell in the first quarter.
Q.What is Central Group's stated motivation for looking to acquire these assets?
What is Central Group's stated motivation for looking to acquire these assets?
Central Group is actively looking to buy assets overseas to expand its presence. This strategy aims to grow their business into both Southeast Asia and Europe, making the Thai and Vietnamese units attractive targets.
Q.What proportion of Big C Supercenter Pcl does Casino Group currently own?
What proportion of Big C Supercenter Pcl does Casino Group currently own?
Casino Group currently owns a 58.6 percent stake in Big C Supercenter Pcl. This majority holding is what Casino Group announced its intention to sell last week.
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