In a statement released yesterday (4 April) retail giant Carrefour put an end to speculation, confirming that it has received “a number of offers” to take over its South Korean operations.
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The world’s second biggest retailer has been selling underperforming assets and exiting markets where it has performed poorly, such as Japan, in order to refocus on core activities.
The company confirmed that it is seeking “external long-term solutions for its South Korean operations”, stating that it would only consider offers from established operators in order to secure the future of its workers, suppliers and other partners in South Korea.
When contacted by just-food, the company declined to give further details of the timing of a sale or the potential bidders. However, reports suggest that those in the running include the UK’s Tesco alongside South Korean retailers Lotte Shopping Co, Shinsegae Co and clothing firm E-Land, which have all confirmed they have submitted offers.
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By GlobalData
