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Casino Group is set tosell its stake in Big C Supercenter PCL to the TCC Group, one of Thailand'sleading conglomerates, for 3.1 billion euro (US$3.46 billion).

Thai tycoon Charoen Sirivadhanabhakdi has secured the 58.6 per cent stake in Big C Thailand from French retailer Group Casino after a short bidding process. The controlling interest will be bought by Charoen’s holding company TCC Holdings which late last year bought the Metro Vietnam business from Germany’s Metro AG for €655 million and is.

Big C has 174 'supercenter' malls and mini-marts nationwide including this one on Ratchadamri Road in Bangkok. TCC Group of Chang beer-Mekhong whisky billionaire Charoen Sirivadhanabhakdi has. Casino Big C Thailand countries and Casino Big C Thailand states. It Casino Big C Thailand is your own responsibility to determine if gambling online from your current location is legal. Playing casino games Casino Big C Thailand involves risk and should be considered a fun, recreational activity, not a way to earn an income.

It marks a major step in the Frenchretailer's plan to cut its debts.

Big C is a leader in food retail andcommercial real estate in Thailand with a large network of more than 700 stores,including 125 hypermarkets, and a turnover of 3.4 billion euros last year.

It has signed a contract to sell its58.6 per cent stake in Big C at 252.88 baht ($7.1) per share, a 28 per centpremium to Big C's market price when the stake sale plan was announced onJanuary 14, the French retailer said in a release.

The sale is expected to be completedby March 31.

In December Casino Group hadrevealed plans to sell its Big C supermarket chain in Viet Nam as well asThailand and Colombia to strengthen its financial flexibility.

The sales of its Vietnamese retailoperations and some of its real estate holdings in Colombia are ongoing.

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A Big C Viet Nam spokesperson saidrecently that some local newspapers had reported that the sale of the Viet Namoperations was completed.

'This information is incorrect,' hesaid, adding that the process of selling the wholly-owned Big C Viet Nam is justin the beginning stage.

Casino has received expressions ofinterest from Lotte Shopping of South Korea, Singapore's Dairy Farm, Thai retailgiants Berli Jucker and Central Group, and Japanese retail group Aeon.

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Big C is among several major foreignretailers in Viet Nam and a big player in the retail sector.

VNS

Casino Group plans to sell Big C Vietnam

Big C Online Thailand

Dec 18, 2015

France’s Casino Group announced plans on December 15 to sell its Big C supermarket chain in Vietnam to cut its debts by more than USD2.2 billionnext year.

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In a statement on Tuesday, Casino, the majority shareholder in Big C supermarkets, will also sell some of its real estate in Thailand and Colombia, according to the Bangkok Post.

With 32 Big C outlets nationwide, including eight in HCM City, Big C ranks second among retailers in Vietnam after Co.op Mart. The sale of the Vietnam business could raise USD813.86 million for the firm, meanwhile, the value for Thailand and Colombia market is USD596.8 million and USD216.98 million respectively, Bruno Monteyne, an analyst at Sanford C. Bernstein, told Bloomberg news.

The Casino Group is also the second European retailer to announce plans to sell its Vietnamese business, following Germany’s Metro Group which announced in August last year to sell its Vietnamese cash-and-carry unit to Thailand’s Berli Jucker at USD879 million.

Casino Group said it will continue to focus on its key markets in France, Latin America and Asia after selling its assets in Vietnam, Thailand and Colombia.

Big C owns almost 800,000 square metres of gross leasable area in its shopping malls located in prime locations in Thailand and over 300,000 square metres in Colombia.

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Source: talkvietnam.com

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