ref="http://www.cityam.com/company/tesco">TESCO and Singapore’s Dairy Farm are among those to submit second-round bids for French retailer Carrefour's Southeast Asian assets, it emerged yesterday.
Carrefour, the world’s second largest retailer, had set a November 5 deadline for second-round bids in an auction which is expected to fetch $1bn (£620m).
The auction has generated strong interest, mostly from trader buyers, according to reports.
The supermarket operator is selling its shops in Malaysia, Singapore and Thailand to focus on markets where it holds leading positions.
Dairy Farm, which is backed by Jardine Mathseon, is interested only in Malaysian and Singapore assets, while Tesco was pursuing most of the assets up for grabs, reports suggest.
The auction is run in two separate processes, one for Thai assets and the other for Malaysian and Singapore assets. One source said that French retailer Casino Group, Thai retailer Berli Jucker and Thai Central Group are in the fray for Carrefour’s Thailand assets.