Business Intelligence on Retailing, Franchising, and Consumerism in China

Rt-Mart Plans Merger With Auchan Group

Rt-Mart, the supermarket retail investment of Ruentex Group, has announced plans to merge with the French retail group Auchan and the two may launch an IPO in Hong Kong in 2010.

Ruentex Group said the two parties are still in negotiation and if they reach an agreement, their cooperation will be limited to the Chinese mainland market, and will exclude Taiwan.

Ruentex Group plans to establish a joint venture with Auchan Group and to apply for listing in Hong Kong. According to Ruentex Group, Rt-Mart started the planning for IPO in Hong Kong in 2006. In 2007, it decided to complete the listing in cooperation with Auchan Group, though the cooperation model is yet to be decided.

Rt-Mart will reportedly maintain its expansion rate in 2009 and the retailer will open 14 new stores before the end of the year. By the end of August 2009, Rt-Mart had made revenues of CNY26.516 billion, a year-on-year increase of 18.44%.

Be the first to comment on "Rt-Mart Plans Merger With Auchan Group"

Leave a comment

Your email address will not be published.


  Other China News

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


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

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