Coles chairman Rick Allert has visited the UK to meet with potential buyers for Australia’s second largest retail chain, the Australian Financial Review reported today (5 March).
It is understood that Coles is in talks with buyers ranging from supermarket group Tesco to private equity funds Permira and Apax Partners.
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Tesco declined to comment on whether it would be interested in entering the Australian market through the acquisition of Coles.
France’s Carrefour and US retailer Wal-Mart have also been identified as potential trade buyers.
