Carrefour to pull plug on Malaysia, Singapore, Thailand operations

Carrefour has approached potential buyers and may ask for bids by early September, said two of the people, who declined to be identified because the sale process isn't public. The combined operations may fetch US$800 million to US$1 billion, they said. Florence Baranes-Cohen, spokeswoman for Paris-based Carrefour, declined to comment.

The retailer will consider selling the units separately as potential buyers may not be interested in bidding for all three combined, according to two of the people. Carrefour's Thai business may have a value of US$500 million to US$600 million, while the Malaysian and Singapore operations may be valued at US$350 million to US$400 million, the people said. Carrefour plans to retain its units in China and Indonesia, they said.

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