Business Intelligence on Retailing, Franchising, and Consumerism in China

Companies Eye Trust-Mart Buyout

Trust-Mart, a Taiwan-based mainland supermarket chain, has received buyout offers of more than US$1 billion each from Wal Mart, Britain's Tesco PLC, Carrefour SA and Shanghai-based Lianhua, The Standard reported.

According to the Hong Kong-based newspaper report, the clarification process can take a few months and the deal might close in September at the earliest.

Lianhua is likely to bank on its status as the only domestic bidder as well as its political connections, while Tesco, the world's third-largest hypermarket company behind Wal-Mart and Carrefour, was the "dark horse", according to the report.

UBS is reportedly arranging the sale for Trust-Mart, which was founded in 1997 by Taiwan investors and has more than 100 retail outlets and operates across 20 mainland provinces.

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