Malaysian private-equity fund Navis Capital has reportedly made the second round of bidding for Carrefour‘s Singaporean and Malaysian assets.

According to reports by Reuters, a source said Navis would not be bidding for Carrefour’s Thai assets.

The retailer’s sale of its assets in Thailand, Malaysia and Singapore have been shrouded in secrecy, with the retailer denying the disposals, which could raise US$1bn for the retailer.

However, the Financial Times and Wall Street Journal have reported that other remaining bidders for the assets include French retailer Casino and British giant Tesco.

Other bidders reportedly include Thai retailers Big C, which Casino part owns and Central Group, as well as Thai FMCG firm Berli Jucker Pcl.