French retail giant Carrefour has declined to comment on reports it is in talks to sell its Malaysian operations to Japanese giant Aeon.
Aeon, which operates around 29 stores in Malaysia, is understood to be in negotiations to buy Carrefour’s 26 stores there, the Japanese Nikkei news agency reported today (26 October).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal, which is expected to be completed by next week, would make Aeon, Japan’s number one supermarket operator. The sale would reportedly net Carrefour around JPY20bn (US$250.6m).
A spokesperson for Carrefour said it would not comment on the rumours.
The reports come two years after the French retailer cancelled plans to sell its Malaysian and Singapore divisions, after the auction did not attract bids that would have justified proceeding. Bidders at the time were thought to have included Aeon, Tesco and Hong Kong-based Dairy Farm International Holdings.
This August, Carrefour did confirm plans to exit Singapore with the closure of its two stores by the end of the year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCarrefour CEO Georges Plassat wants the retailer to focus on fewer markets. Last week, Carrefour sold its stores in Colombia to Chile-based retailer Cencosud.
In July, Carrefour offloaded its Greek business and earlier this month there was speculation the retailer could combine its Turkish unit with local firm Migros Ticaret.
