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PR Newswire
07-08-2013, 04:40 PM
Asia still the location for business growth...
Wal-Mart said to weigh bid for Li’s Hong Kong supermarket chain
HONG KONG - Wal-Mart Stores is considering making a bid for the Hong Kong supermarket business being sold by a company controlled by Asia’s richest man Li Ka-shing, people familiar with the matter told Reuters.
Mr Li’s Hutchison Whampoa conglomerate has set an August 16 deadline for initial bids for ParknShop, which it values at as much as US$4 billion (S$5.1 billion), sparking interest from corporate and private equity buyers.
Wal-Mart, the world’s largest retailer, is working with a bank as it weighs its options for ParknShop ahead of next week’s preliminary bid deadline, the people said.
Wal-Mart declined to comment. The sources declined to be identified because the discussions are confidential.
http://www.todayonline.com/business/wal-...rket-chain
Wal-Mart said to weigh bid for Li’s Hong Kong supermarket chain
HONG KONG - Wal-Mart Stores is considering making a bid for the Hong Kong supermarket business being sold by a company controlled by Asia’s richest man Li Ka-shing, people familiar with the matter told Reuters.
Mr Li’s Hutchison Whampoa conglomerate has set an August 16 deadline for initial bids for ParknShop, which it values at as much as US$4 billion (S$5.1 billion), sparking interest from corporate and private equity buyers.
Wal-Mart, the world’s largest retailer, is working with a bank as it weighs its options for ParknShop ahead of next week’s preliminary bid deadline, the people said.
Wal-Mart declined to comment. The sources declined to be identified because the discussions are confidential.
http://www.todayonline.com/business/wal-...rket-chain
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