VietNamNet Bridge - Thai conglomerates, including TCC Holding and Central Group, are running a race to buy Big C supermarkets in Vietnam and Thailand from French Casino Guichard-Perrachon SA, according to the Ministry of Industry and Trade’s Commercial Division in Thailand.

 


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TCC Holding and Central Group belong to Thai billionaires Charoen Sirivadhanabhakdi and the Chirathivat family, respectively. The two have shown strong determination to acquire the Big C chain.

The source said on Bizlive that both the Thai conglomerates have been seeking consultancy from banks in anticipation of the necessity for financial support.

Some days ago, TCC Holding reached an agreement on buying 59 percent of Casino’s stakes in Big C Thailand in a deal worth $3.5 billion.

As for Big C Vietnam, analysts say it may be worth up to $800 million.

Japan’s Aeon Group has also expressed its intention to buy Big C Vietnam.

Thai conglomerates, including TCC Holding and Central Group, are running a race to buy Big C supermarkets in Vietnam and Thailand from French Casino Guichard-Perrachon SA,
If the deals to sell Big C Vietnam and Thailand succeed, roughly $55 billion would be added to the value of mergers and acquisitions in South East Asia in the last 12 months.

To date, Casino has not released any official information about the sale of Big C. It is still unclear if Big C Vietnam and Big C Thailand would be sold separately or in the same affair.

Both TCC Holding and Central Group are fierce rivals. TCC Holding has successfully acquired Metro Cash & Carry Vietnam for $655 million. The group was the buyer of Frazer & Neave, a Singaporean beverage & food manufacturer in 2013.

Meanwhile, Central Group is a big player in the retail sector. It acquired Italian La Rinascente chain in 2011 and Danish Illum in 2013.

Some days ago, local newspapers reported that Big Vietnam had been transferred to TCC Holding. However, Big C Vietnam has denied the information.

Big C Vietnam said in a press release that the ownership transfer process has not finished yet.

Zing.vn quoted a representative from Big C Vietnam as saying that Casino Group may implement its disinvestment from Big C Vietnam and Thailand within six months.

He said unlike in Thailand the process in Vietnam had just started and the ‘shortlisted names’ for the ‘sprinting stage’ remained unclear.

Reuters reported that Singaporean Dairy Farm and South Korean Lotte Shopping now also eyes Big C. 

However, analysts commented that the two investors are not likely to win in the race with Thai businessmen.

Vu Vinh Phu, chair of the Hanoi Supermarket Association, when answering the local press some months ago, also thinks Big C would fall into Thai hands.


Kim Chi