French retail giant Carrefour has identified two firms, Lotte Mart and Samsung Tesco, as the preferred bidders for its 32 outlets for sale in South Korea.

According to Korean and international reports, the sale of Carrefour’s Korean units could generate as much as US$1.53bn for the French retailer.

Lotte Mart is a unit of South Korea’s largest department store operator, Lotte Shopping. Samsung Tesco is a joint venture between the Samsung Group and the UK’s Tesco.