Carrefour has launched plans to sell its units in Malaysia, Singapore and Thailand, according to reports.
If it goes ahead, the deal could raise around US$1bn for the retailer.
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Carrefour is working with investment banks Goldman Sachs and UBS on the auction, which is expected to generate interest from both corporate buyers and private equity firms, Reuters reported. The auction is reportedly in its early stages.
Late last year, Carrefour came under pressure from its biggest investors, Colony Capital and Bernard Arnault to sell its operations in Asia and Latin America as the value of the company’s stock has dropped close to 30% since they came on board in 2007.
In April, Carrefour sold a 40% stake in its Indonesian business to local conglomerate Para Group.
Trans Corp., the holding company of Para Group’s media, lifestyle and family entertainment units, acquired the shareholding in PT Carrefour Indonesia for an undisclosed sum.
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By GlobalDataIn May, reports emerged of Trans Corp.’s plans to buy the rest of Carrefour Indonesia and then list the business.
Carrefour declined to comment on the speculation.
