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Tag: big C

  • Big C Thailand plans major expansion

    Big C Thailand plans major expansion

    Berli Jucker Group, the new owners of Big C Thailand, have announced a major expansion plan targeting the regions.

    Big C Supercenter’s board, now controlled by Berli Jucker Group after it bought stakes from Group Casino and Central Group, over recent months, have signed off on a budget of up to THB6 billion (US$168 million) for store expansion.

    New stores are planned for what the company describes as “blue ocean” sites, including border cities and major districts where the brand is not well represented.

    Last weekend, Big C opened its 126th hypermarket, in Ranong, only the first new store this calendar year.  The 4000 sqm store anchors a 10,000 sqm development, aiming to attract 10,000 shoppers a day, most of them Burmese from across the border or living and working in the province. The complex also houses a three-screen Major Cineplex cinema

    Big C Thailand plans to open five more hypermarkets this year, mostly in the south and northeast of the nation. Another three smaller Big C Market stores are planned for the north and 75 mini Big C convenience stores, two thirds of them franchised.

    “BJC will help strengthen Big C via its diversified products and in the area of logistics. It may help the company to speed up its expansion in the future,” said Songsak Wijaithammarit, assistant VP for operations.

    “Our shareholders were impressed by the new major shareholder of Big C, which is Thai.”

    Big C currently operates 125 large format stores (Big C Supercenter, Extra and Jumbo), 55 Big C Market stores, 397 Mini Big C stores (including 164 in Bangchak service stations) and 147 Pure drugstores.

    Big C Supercenter’s operating profit rose 1.2 per cent to THB2.01 billion last quarter on sales down 1.1 per cent to THB 32.8 billion. Same-store sales dropped 2.9 per cent.

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  • Central Group halts its acquisition spree in Vietnam, gets bridge loan for Big C deal

    Central Group halts its acquisition spree in Vietnam, gets bridge loan for Big C deal

    Thai retailer Central Group said it will put a hold on its acquisition spree in Vietnam, after the recent aggressive expansion in the country, to focus on making profit over the next three years, according to different media reports.

    The recent forays in Vietnam include the establishment of three Robins Department Stores, the acquisition of a 49 per cent stake at Vietnam’s largest electronics retailer Nguyen Kim, the takeover of fashion e-commerce site Zalora Vietnam from German group Rocket Internet, and a $1.1 billion buyout of Big C Vietnam.

    Vietnam was now shaping up as a second home for Central, Prin Chirathivat, deputy group CEO, reportedly said.

    He realised it was time to reap profit from the businesses in the neighbouring country, adding that the depreciation of fixed assets was enough to put pressure on profitability, despite the positive cash flow, according to a report on The Nation.

    However, according to the executive, Central Group will not want to miss any interesting inorganic growth opportunities in Vietnam even as it has decided to slow down the buying pace.

    Its biggest equity investment in Vietnam was the $1.1 billion deal to own over 30 Big C Vietnam supermarkets, which was reported to be accommodated by the sale of Big C Thailand unit to rival TCC Holding and its subsidiary Berli Jucker. But the 50 billion baht realisation from offloading the remaining 25 per cent in Big C Thailand will be used for other purposes, while Central Group secured a bridge loan from Bangkok Bank to finance the Vietnam deal, according to the Bangkok Post.

    Meanwhile, it will use Zalora to strengthen the channels of its local partner Nguyen Kim and Central Marketing Group’s unit in Robins, the media reports said.

    Despite the halt in further acquisitions, the Thai group still considers Vietnam as a very important market, buoyed by a growing economy and high purchasing power.

    “In Indonesia, we don’t have an opportunity to acquire retail businesses because there are no sellers unlike in Vietnam. Our expansion in Indonesia is slower than in Vietnam,” The Nation cited Prin as he compared Vietnam with Southeast Asia’s largest market.

    However, he also revealed the group’s plan to have five more department stores in Jakarta and Surabaya by 2017, as the retailer is currently operating only one store in the capital city.

    In Thailand, Central Group no longer has ownership in Big C Supercentre but has also acquired Zalora business in the country.

     

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  • Retail changes hit Vietnamese labels

    Retail changes hit Vietnamese labels

    After acquiring supermarket chains in Vietnam, Thai retail groups have started strengthening the distribution of products from Thailand to the detriment of Vietnamese labels.

    Central Group and BCJ Group now have more than 50 supermarkets and convenience stores in Vietnam, and VietnamNet reports that more than half of the retail market share in Vietnam is now in Thai hands.

    Metro wholesale supermarkets, which have changed from German to Thai ownership, now feature Thai products in a special area by the main entrance, including household appliances, clothing, processed food and cosmetics.

    VietnamNet says the volume of Vietnamese goods in supermarkets and shopping malls has dropped two-thirds, being replaced by Thai products.

    Vietnamese manufacturers have complained about the volume of their products being cut back after Metro changed hands. Vietnamese goods have reportedly also been replaced at other retail chains, including Big C and B’s Mart.

    Saigon Food general director Le Thi Thanh Lam says that foreign-owned retail chains always demand high discount rates from suppliers.

    Vietnam High-quality Product Association chairperson Vu Kim Hanh says Thai goods will become a major rival for Vietnamese.

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  • Central Group sells Big C Thailand stake to rival

    Central Group sells Big C Thailand stake to rival

    Thailand’s Central Group is a step nearer to settling on Big C Vietnam  after selling its stake in Big C Thailand to a rival retailer.

    Central has accepted an offer from rival TCC Group for its 25 per cent holding of Big C Supercenter, reported to be worth at least 50 billion baht (US$1.4 billion).

    The deal follows French retail group Casino’s decision to sell its Thailand and Vietnam units this year in a bid to cut debt. Both businesses have hypermarkets, supermarkets and convenience stores.

    Central Group, Thailand’s biggest retailer led by tycoon Tos Chirathivat, lost out to TCC’s flagship retail unit Berli Jucker in the battle to gain control of the Thai unit, but has agreed to pay 920 million euros (US$1.1 billion) for Big C Vietnam.

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  • Foreign retailers in Vietnam under attack

    Foreign retailers in Vietnam under attack

    Complaints by Ho Chi Minh City businesses about foreign retailers in Vietnam have sparked the prime minister to order an investigation.

    Members of the Ho Chi Minh City Union of Business Associations (HUBA) say the growing number of foreign retailers in Vietnam have a loose rein to expand at a pace that will eventually hurt local companies.

    HUBA has sent at least two letters to the government raising questions about the legality of some business activities by foreign retailers, reports Thanh Nien News.

    Vietnam laws forbid foreign businesses to distribute products such as rice, cane sugar and cigarettes, but these items are still available at the supermarkets and convenience stores of most foreign retailers, including South Korea’s Lotte and Big C, Tuoi Tre reports.

    Following the complaints, Prime Minister Nguyen Xuan Phuc has ordered relevant agencies to check into foreign retailers, including mergers and acquisitions.

    Media reports say Mega Market Vietnam, which owns Metro wholesale stores, is expected to be first to face the scrutiny. The stores were originally run by Germany’s Metro before being acquired by Thailand consumer group TCC this year.

    Statistics show that Vietnam is home to more than 700 supermarkets and 132 shopping malls, mostly in the main centres of Hanoi and Ho Chi Minh City.

    Meanwhile, Hanoi Association of Supermarkets chairman Vu Vinh Phu says a supermarket in the northern city of Hai Phong had its revenue fall 30 per cent six months after a foreign superstore opened.

    Foreign companies now control more than half of Vietnam’s retail market, says the association, and many producers complain they are struggling to have their products in foreign supermarkets mainly because the retailers ask for high discounts, says HUBA vice-chairman Pham Ngoc Hung.
    Meanwhile, products from countries such as Japan, Malaysia, South Korea and Thailand are becoming more and more popular.

    Vietnam’s retail sales rose 10.6 per cent from 2014 to VND2469 trillion (US$109.4 billion) last year, official figures show.

  • Central Group wins Big C Vietnam auction

    Central Group wins Big C Vietnam auction

    Thai retail conglomerate Central Group has won the bidding battle for Groupe Casino’s Big C Vietnam business.

    Groupe Casino has confirmed Central paid €1 billion (US$1.14 billion), which will be used to pay down debt.

    That price is as much as $300 million more than the French retailer reportedly expected to get for the business whose value was earlier publicised at around US$800 million.

    One of the rival bidders – Lotte Group of Korea – is believed to have withdrawn from the process when it became clear the price would exceed $1 billion.

    Casino says it will net €920 million after sale costs.

    Central Group is already building a substantial collection of assets in Vietnam, rolling out Robins department stores in main centres and acquiring a controlling interest in the country’s largest electronics retail chain Nguyen Kim. Outside Vietnam it owns department stores in Italy, Germany and Indonesia, amongst other markets. Worldwide it boasts 4400 stores under various brands.

    In an odd twist, Central was a minority shareholder in the Big C Thailand operation which Groupe Casino sold a majority 58.6 per cent stake to rival Thai retailer Berli Jucker last month. Berli Jucker is controlled by tycoon Charoen Sirivadhanabhakdi, who last year paid €3.1 billion for German owned Metro Group’s hypermarket business in Vietnam. Berli Jucker is believed to have bid for Big C Vietnam but lost out to Central.

    The Big C Vietnam operation comprises 43 stores and 30 shopping malls. It turned over  €586 million in 2015.

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  • Lotte pulls out of Big C Vietnam race

    Lotte pulls out of Big C Vietnam race

    South Korean retail heavyweight Lotte has reportedly withdrawn from the bidding battle for Big C Vietnam.

    Reuters, quoting unnamed sources familiar with the matter, said the company was not keen to bid aggressively for the supermarket network. Lotte already has its own network of hypermarkets in Vietnam and will no doubt have costed a bid for Big C based on the value of the market share and assets it would acquire versus the cost of continuing its own organic store network growth.

    France’s Groupe Casino is auctioning off the Vietnam business having earlier sold its stake in Big C Thailand to Thai import and export firm Berli Jucker for about US$6.2 billion.

    Lotte Group, which controls Lotte Shopping, declined to comment on the report.

    Big C opened its first Vietnam store in 1998 and has 30 stores in cities across the country.

    At the time it put the business on the market, Groupe Casino said it hoped to be paid about US$813 million, which would be spent paying down debt.

    However based on current bids for the business, sources are now estimating the sale could net closer to $1 billion.

    Thailand’s Central Group, which is has been approached by Berli Jucker to buy its minority stake in Big C Thailand and has a growing portfolio of retail businesses in Vietnam, is thought to remain in the hunt, along with Berli Jucker which through an affiliated company bought Metro Vietnam from Germany’s Metro AG last year and is building a convenience store network in the country under the banner B’Smart.

    Reuters reports at least 10 offers were initially received for the business, with the final round of tender due this week.

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  • Jucker votes for Big C buy

    Berli Jucker shareholders have voted in favour of the US$6.2 billion acquisition of a majority stake in Big C Thailand.

    The vote – virtually unanimous – followed news the listed company had secured funding for the purchase from a syndicate of 15 banks and means the deal is now all but complete. Settlement is expected late this month.

    But while the future of Big C Thailand now appears to be resolved, negotiations continue over the fate of Big C Vietnam, a smaller, less profitable business controlled by France-based Casino Group, which is shedding overseas assets to reduce its debt exposure.

    Casino has a 58.6 per cent controlling interest in Big C Thailand, which Berli Jucker will now acquire.

    In Vietnam, Thai tycoon Charoan Sirivadhanabhakdi, through another business, has recently purchased the Metro hypermarket business from Metro AG of Germany, to bolt on to Berli Jucker’s B’Smart convenience store network.

    Charoan was thus a favourite to acquire the Big C Vietnam operations to build even greater critical mass, and lodged a bid prior to the first round deadline with his soon to be Big C Thailand partner, Central Group.

    But sources within Asia’s business community are now confident Korea’s Lotte and Japan’s Aeon are frontrunners. Lotte runs the market leading Lotte Mart hypermarket business in Vietnam and would gain a significant foothold in the nation if it could secure Big C as well.

    Aeon, which is building shopping centres in Vietnam main cities, reportedly submitted an offer that valued the business at more than US$800 million according to sources quoted in Vietnam media.

    Lotte also submitted a bid prior to the first round deadline.

    Casino has declined comment on the Vietnam sale other than to say it was “progressing well” when it reacted to ratings agency Standard & Poor’s decision to cut its credit rating to junk status  on Monday

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  • Thai BJC shareholders approve $6.2 billion Big C buy

    Thai BJC shareholders approve $6.2 billion Big C buy

    Thailand’s Berli Jucker shareholders have voted in favor of a $6.2 billion acquisition of hypermarket operator Big C Supercenter Pcl (BIGC.BK) from France’s Casino Group.

    Some 99.99 percent of voters approved the plan at Monday’s meeting, two financial sources who attended it said.

    Berli, the core retail business of Thai tycoon Charoan Sirivadhanabhakdi’s TCC group, won a hotly contested auction for Casino’s 58.6 percent stake in Big C.

    Earlier, Casino said it was on track to reduce debt as promised after Standard & Poor’s cut the French retailer’s credit rating to junk, citing falling profits, weakness in Brazil and competition at home.

    The Thai group secured $6.2 billion short-term financing deal with 15 banks to fund the Big C acquisition on Wednesday.

    Berli is expected to pay Casino by the end of March and the company will buy the remaining shares from minority shareholders in a tender offer, to be completed by May, one source said.

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  • Central denies hypermarket ambition

    Central denies hypermarket ambition

    Central Group chief executive Tos Chirathivat says the group has set aside 39 billion baht for investments at home and abroad this year. PHRAKRIT JUNTAWONG

    Central Group yesterday insisted it is not seeking to establish its own hypermarket chain to counter TCC Group’s entry into the big retail segment with the recent acquisition of a major stake in SET-listed Big C Supercenter Plc.

    Instead, it is considering buying Big C store operations in Vietnam from Casino Group, a leading French retailer.

    Tos Chirathivat, the group’s chief executive, said Central did not have any plan to sell its 25% stake in Big C Supercenter in Thailand after TCC Group’s Berli Jucker Plc successfully bought a 58.56% stake in Big C.

    Berli Jucker will make a tender offer for the remaining shares in Big C soon.

    “The hypermarket business has entered the mature stage and its growth may not be as high as in the past 20 years, but we won’t sell our Big C shares,” Mr Tos said.

    Central will not create a new hypermarket store brand because it already has Tops Superstore, which is similar to Big C.

    Mr Tos said he would decide on March 10 whether Central would enter bidding for Big C assets worth 20 billion baht in Vietnam.

    “We have not made our decision yet because there are several factors to be considered carefully, including the complicated process of mergers and acquisitions over there,” he said.

    A market analyst said it was possible Central would join the bidding because Vietnam is one of the group’s strategic investment countries in the Asean region.

    Central’s retail business in Vietnam has more than 6,000 staff and generated revenue of US$600 million last year. If Central wins the bid for Big C assets, its business value will double to 40 billion baht overnight.

    Mr Tos said the group would put more focus on opening new branches and renovating its Thai stores while expanding some new stores in Cambodia, Laos, Myanmar and Vietnam.

    “We will invest cautiously because we are concerned about the impact on the world economic situation from the Chinese slowdown, falling oil prices and the volatility of foreign exchange,” he said.

    The group plans to spend about 39 billion baht this year, 30% more than last year, to open new shopping centres, department stores and other outlets nationwide and renovate some stores.

    It also plans to open five new hotels and some convention centres in destinations including Pattaya, Chiang Mai and Koh Samui.

    It has signed management contracts with 29 new hotels with 6,716 hotel rooms.

    Centara Muscat Hotel in Oman, Centara Grand West Bay Hotel Doha in Qatar and Centara Grand Lykia World Resort & Spa in Turkey will be opened in the third quarter.

    The group also plans to invest in two more four-star hotels in the Maldives and a four-star hotel in Dubai.

    Central Group has 70 hotels with 14,583 rooms in 11 countries.

    The group will allocate 10.4 billion baht to renovate its department stores in Europe from 2016-20. About 3.6 billion will be used for La Rinascente in Italy, 2.4 billion for Illum in Denmark and 4.4 billion for three stores under the KaDeWe Group in Germany.

    Last year, Central’s revenue totalled 283 billion baht, up 13.5% from 2014. The group projects to increase its revenue by 18.9% to 337 billion baht this year. About 76% of sales will come from Thailand.

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  • Casino confident could exceed asset sale target

    Casino confident could exceed asset sale target

    Shares in Big C finished up 9.7 percent as investors cheered an up to $3.5 billion deal by France’s Casino Group to sell its majority holding in the Thai hypermarket operator to TCC Group, owned by whiskey tycoon Charoen Sirivadhanabhakdi. The Vietnam unit sale had been planned earlier. Casino has said it plans to raise 4 billion euros ($4.5 billion) by selling assets this year, including its operations in Thailand and Vietnam. Ratings agency Standard & Poor’s in January put the French retailer’s debt on “negative watch” for a possible downgrade to junk status, citing concerns over weakness in Brazil and the retailer’s debt.

    In a significant step to reduce mounting debt levels, French retailer Group Casino has sold its controlling stake in one of Thailand’s largest supermarket chains.

    The sale is expected to be completed by 31 March 2016.

    A deal would add to the $50.6 billion of acquisitions in Southeast Asia over the past 12 months, data compiled by Bloomberg show.

    TCC, which owns the maker of Chang Beer among other assets, outbid Thailand’s biggest retailer Central Group to push into a retail sector that is expanding along with the number of middle class consumers.

    With over 700 outlets across Thailand, Big C’s market capitalisation nears €4.bn, while its annual revenue for 2015 totalled €3.4bn.

    With the news of Big C now under his belt as well, there seems to be no sign of Charoen slowing down in the coming year. Last month, Mr. Charoen’s TCC Group closed a EUR655 million acquisition of Metro Group’s cash & carry wholesale business in Vietnam. He became a household name in 2013 when he bought a controlling stake in Singapore-listed conglomerate Fraser & Neave that valued the firm at $11 billion.

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  • Thai conglomerate buys Big C for $3.4bn

    Thai conglomerate buys Big C for $3.4bn

    BANGKOK — Marking its first full-fledged step into the retail market, Thai conglomerate Thai Charoen Corporation (TCC) Group, owned by alcohol tycoon Charoen Sirivadhanabhakdi, has agreed to buy a majority stake in supermarket operator Big C Supercenter for 3.1 billion euros ($3.4 billion), excluding debts, from France’s Casino Group.

    Big C operates roughly 700 supermarkets, including 125 hypermarkets, throughout Thailand and is the second largest supermarket operator after Tesco Lotus, owned by the U.K.’s Tesco.

    According to a Casino Group release, Big C shares are valued at 252.88 baht ($7.1) per share, a 28% premium to the share price on Jan. 14 when Casino Group initially announced the disposal of its 58.56% stake, currently held through two local subsidiaries. The deal is to be closed by the end of March.

    TCC Group is the parent company of Thai Beverage, the flagship alcohol and beverages company known for its Chang beers.

    Billionaire Charoen has been expanding his reach within the Association of Southeast Asian Nations, including the 2013 takeover of Singapore beverage company Fraser and Neave, but until now his retail operations have been relatively small. In January, the group completed its acquisition of German cash-and-carry chain Metro’s Vietnamese unit.

    The Big C acquisition in Thailand, where consumers have a higher purchasing power than neighboring countries, will likely boost the conglomerate’s retail operations. Big C is expected to become a channel for the promotion of products of other companies within the group, such as Thai Beverage, F&N and Berli Jucker.

    The 28% premium may seem a somewhat high, but analysts say that this was one of the few chances left for Charoen to make a move into the Thai retail sector.

    After Carrefour’s Thai business was acquired by Big C in 2011 and Siam Makro, another cash-and-carry chain under a Dutch trading company was purchased by Charoen Pokphand Group in 2013, Big C and Tesco were the only foreign-owned retailers whose stake holdings could be put up for sale.

    “All the big family conglomerates are eager to acquire these foreign holdings,” Anuwat Srikajornratkul, analyst with Asia Plus Securities, said. “The retail market is already saturated and the best way to expand is to acquire an existing brand instead of building new brands,” he explained.

    Agribusiness conglomerate Charoen Pokphand Group, which runs Thailand’s Seven Eleven stores, is reportedly seeking to acquire Tesco Lotus.

    Casino Group, meanwhile, is expecting to reduce its debt by 3.3 billion euros through the sale. As part of its restructuring plan, it is also considering the disposal of its stake in Big C’s Vietnamese unit. Analysts speculate that TCC Group will likely compete for that acquisition too.

    Following the announcement, Big C shares shot up by 10% to 251 baht, a one-year-high during Monday’s trading hours. Berli Jucker shares soared nearly 20% also closing in to a one-year-high. Thai Beverage had no trading Monday as it is listed on the Singapore bourse, which was closed for the Lunar New Year holiday.

    According to Thai regulations, TCC Group will have to conduct a tender offer for all the remaining Big C shares after the deal is closed.

    Local media had reported that Thailand’s largest retailer Central Group was also interested in purchasing the Big C stake. Central initially founded Big C in Thailand and opened its first store in 1994. However, in the wake of the Asia Financial Crisis, it sold most of its stake to Casino Group in 1999.

    Central is also reportedly interested in bidding for Big C Vietnam.

    Central owners the Chirathiwat family currently hold a minority stake in Big C Thailand. Analysts say that the family could sell off all its remaining stake through TCC’s tender offer.

  • Asian retail giants mull Big C bids

    Asian retail giants mull Big C bids

    At least three major Asian retailers are mulling bids for control of the Big C businesses in Thailand and Vietnam.

    But they all start as rank outsiders behind Thailand’s Central Group, which already has a 25 per cent share of the Thai Big C business.

    In a surprise move, France’s Casino group announced earlier this month it would sell its 58.6 per cent stake in the Thai hypermarket business in a bid to reduce debt. It had already put its struggling Vietnam business on the market in December.

    Reuters reports Hong Kong headquartered Dairy Farm International and Korea’s Lotte are in talks with their bankers about potential bids. Japan’s Aeon is also running the numbers.

    But as Reuters says, all three would need “punchy bids” to fight off frontrunner, Thailand’s Central Group.

    Casino Group will sell both businesses in an auction process – and has indicated it would prefer to sell the two operations to a single buyer.

    With a cornerstone stake in the Big C operation, Central would have to be frontrunner to secure Casino Group’s share. The company has already publicly declared its interest.

    “Whoever is going to buy this will have to pay a high price to get Central out or they will have to co-exist,” Reuters quoted an unnamed banking source “familiar with the matter”.

    The Thai stake is estimated to be worth about US$3.1 billion. The value of the Vietnam operation is less clear – bankers put it at between $800 million and $1 billion, although the business is not thought to be particularly profitable, despite recent media commentary to the contrary.

    Aeon, Lotte and Dairy Farm all declined to comment on the matter.

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  • Korean, Singaporean investors also want to buy Big C Vietnam

    Korean, Singaporean investors also want to buy Big C Vietnam

    The analysts said that the auction is a unique opportunity for foreign corporations to pour capital into the two retail markets of the highest profit in Southeast Asia.

    Both the two new potential investors are appreciated for financial strength. Dairy Farm Group is the 2nd largest retailer in Singapore and Hong Kong, which owns a series brands like 7-Eleven, Cold Storage, Guardian, Wellcome Giant, Hero … Its revenue in 2014 is about $13 billion.

    Meanwhile, Lotte Shopping is Korea’s largest mall chain with turnover of $23 billion and $509 million of profit in 2014.

    Another source said that Japanese retail group Aeon Co Ltd is also considering to join the race.

    Earlier, the two retail giants of Thailand – Berli Jucker and Central Group – said they wanted to buy the property.

    Central Group, the largest retailer of Thailand, owned by billionaire Tos Chirathivat is said to have upper advantage because it holds a 25% stake of Big C Thailand.

    This group wants to buy an additional 58.6% of shares, equivalent to $3.1 billion. In addition, Central Group also expects to pay from $800 million to $1 billion to own the whole Big C Vietnam system.

  • Charoen said to also compete for Big C in Thailand, Vietnam

    Charoen said to also compete for Big C in Thailand, Vietnam

    Some of Thailand’s richest families are preparing to compete for the Southeast Asian operations of French supermarket operator Casino Guichard-Perrachon SA, according to people with knowledge of the matter.

    Billionaire Charoen Sirivadhanabhakdi’s TCC Holding Co and the Chirathivat family’s Central Group are weighing first-round bids for the Big C Supercenter chains in Thailand and Vietnam, which are due Feb 5, the people said.

    The companies have been speaking with banks about advisory roles and financing options, according to the people, who asked not to be named as the process is private.

    Casino’s controlling stake in Bangkok-listed unit Big C Supercenter Plc could fetch more than $3 billion (108.4 billion baht), while a sale of its Vietnam business could raise as much as $800 million, the people said. The Vietnamese operations have also drawn interest from Tokyo-based retailer Aeon Co, two of the people said.

    A deal would add to the $54.9-billion of acquisitions in Southeast Asia over the past 12 months, data compiled by Bloomberg show. The proposed disposals are part of Casino’s plan to cut debt by more than €4 billion ($4.3 billion) this year, after its share price slumped more than 50% in the past 12 months.

    Casino may sell its businesses in the two countries together or separately, depending on the offers it receives, the people said. The French company owns 58.6% of SET-listed Big C Supercenter.

    A person who answered the phone at Mr Charoen’s office in Bangkok said he wasn’t available for comment. Spokesmen for Aeon and Big C Supercenter declined to comment, while representatives for Casino, Central Group and TCC didn’t answer phone calls seeking comment. An investor-relations official for Berli Jucker Plc, the Bangkok-listed consumer goods distributor controlled by TCC, also didn’t answer a phone call seeking comment.

    Central Group is among Thailand’s biggest conglomerates, employing over 70,000 people in businesses from retail to real estate, according to its website. It bought Italian luxury department store La Rinascente in 2011 and Danish department store Illum in 2013.

    TCC, led by Thailand’s richest man, agreed last year to buy Metro AG’s Cash & Carry wholesale business in Vietnam for €655 million. The conglomerate acquired control of Singapore food and beverage maker Fraser & Neave Ltd in 2013.

    Big C Supercenter, founded by the Chirathivat family, opened its first store in Bangkok in 1994, according to its website. Casino took control of the Thai-listed company five years later.

    Shares of Big C Supercenter have gained 15% this year, giving it a market value of 191.4 billion baht ($5.3 billion). The company has 580 stores in Thailand at the end of March 2014, ranging from hypermarkets to convenience stores, according to its website.

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