US retail titan Wal-Mart is reported to have launched a bid to buy the Japanese operations of French retail giant Carrefour.
In addition to Wal-Mart’s offer, competing bids have been launched by Japanese retail group Aeon and smaller Osaka-based retailer Izumiya, with all three bids valuing the operations at over US$300m, reported The Wall Street Journal, citing a person familiar to the deal.
Carrefour operates eight hypermarkets in Japan, located in various cities across the country. It is believed to be selling the units to focus on its European and domestic operations, where sales have recently been struggling.
