MALAYSIA/SINGAPORE: Carrefour "puts breaks on store sale"
Carrefour's store bidders are said to include Aeon, Tesco and Singapore's Dairy Farm
French retail giant Carrefour has suspended the sale of its Malaysian and Singapore stores, after bidders offered little to persuade it to sell its operations, according to reports.
It is understood Carrefour rejected offers in a second round of bidding that closed on 5 November, Reuters reported today (16 November), informing bidders that the sale had been "put on hold".
"The prospect that progress would be made on negotations within this year has now disappeared," a source told the publication.
Carrefour announced yesterday (15 November) it has sold its Thai business to Casino subsidiary Big C for EUR868m (US$1.2bn).
Carrefour said the decision to sell the 42 outlets was part of its strategy to "focus its resources on markets where it holds a leadership position and optimise its capital employed".
The Food and Drink Federation (FDF), which represents UK food manufacturers, shows little sign of relinquishing its dogged support of a system based solely on percentage of guideline daily amounts (GD...
Transport giant Eddie Stobart has questioned the strategy of Unite, the union representing delivery drivers who work at a Doncaster distribution centre supplying Tesco stores, after the drivers voted ...
UK cheese producer Bridgehead Foods has said it is targeting expansion in the US, where it hopes to be at the forefront of the cheese adult snacking category....
Tesco delivery drivers employed by transportation group Eddie Stobart have rejected the latest offer from the company, with union representatives calling the negotiations "very disappointing"....
- Danone's global push for Danonino – interview
- How Hormel Foods can benefit from Justin's
- RTRS looks for systemic solutions to progress
- Tackling infant formula fraud in China
- The balancing act at Amy's Kitchen - interview
- Nestle sets new savings target
- Premier takes control of powders JV Knighton
- Wilmar, Adani and Ruchi Soya announce India JV
- TreeHouse rationalises production network
- ConAgra focusing on core with Spicetec sale