Carrefour has launched plans to sell its retail busines units in Malaysia, Singapore and Thailand, according to reports. If realised, such a deal may raise around US$1.0 billion for Carrefour. According to Reuters, Carrefour is working with Goldman Sachs and UBS for an auction to attract corporate buyers and private equity companies.

The deal is possible as they are not priority markets and the retailer does not have a top three position in any of them, Planet Retail analyst Mr. Magali Dubreil said. On the other hand, RBS analyst Mr.Justin Scarborough said the mooted US$1bn price tag for the disposals is "pretty expensive and quite a tall order to achieve." He added Tesco could acquire the operations in Thailand and Malaysia and some of the assets "would probably fit quite well."

Carrefour was under pressure from its investors, Colony Capital and Bernard Arnault to sell its operations in Asia and Latin America as the value of the company's stock has dropped close to 30% since they came on board in 2007. And  in April, Carrefour has sold a 40% stake in its Indonesian business to la ocal conglomerate Para Group.In May, reports emerged of Trans Corp.'s plans to buy the rest of  Indonesian operation.

Source: Reuters and just-food.com