Thailand's Charoen Pokphand Group is bidding for the ParknShop supermarket chain controlled by Hutchison Whampoa in Hong Kong, say three people with knowledge of the matter.
Hutchison, the Hong Kong conglomerate controlled by billionaire Li Ka-shing, is in talks with about five potential buyers after reviewing first-round bids for the 345-outlet chain.
The conglomerate is seeking between US$3 billion and US$4 billion for the business, a person familiar with the sale said this month.
Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.