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.
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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.
