Thailand's PTT bidding for Carrefour assets in southeast Asia

09 September 2010 08:33  [Source: ICIS news]

SINGAPORE (ICIS)--Thai oil and gas major PTT said on Thursday its subsidiary has submitted an expression of interest to acquire the assets of French retailer Carrefour on sale.

In a disclosure to the Stock Exchange of Thailand, PTT president and CEO Prasert Bunsumpun said that its unit PTT Retail Management Co Ltd, which operates service stations and convenience stores, would be bidding for Carrefour's southeast Asian assets.

"However, there shall be additional steps and processes to be taken as prescribed by the seller," said Bunsumpun.

Carrefour was seeking a buyer for its southeast Asian operations covering Thailand, Singapore and Malaysia, to focus on market where it has a leading position, based on media reports.

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By: Pearl Bantillo
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