VietNamNet Bridge – The French-based Casino Group, the owner of Big C supermarket chain in Vietnam, may sell “the group’s activities in Vietnam," according to a press release issued on December 15.

The move aims to "enhance financial flexibility" of the group in a "lever plan" worth more than 2 billion euros in 2016, according to Tiep Thi The Gioi (World Marketing).

Accordingly, this plan is partly implemented through the transfer of real estate assets of the group in Thailand and Colombia.

In Thailand, Big C owns nearly 800,000 square meters of leasable area in shopping centers located in prime locations throughout the country.

In Colombia, this group operates under the name Exito and also has more than 300,000 square meters of supermarkets.

Meanwhile, the sale of Big C supermarket chain in Vietnam may happen because Vietnam is not the core market of this group.

A representative of Big C in Vietnam told Zing.new that the company did not know about the operations of the parent group.

Big C currently has 32 stores throughout Vietnam and it is one of the top retailers in the country.

After selling these assets, Casino Group said it will continue to focus on the growth strategy in the key markets of France, Latin America and Asia.

Zing/Tiep Thi The Gioi