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.





Be the first to comment on "Companies Eye Trust-Mart Buyout"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco