Berli Jucker, a Thai company controlled by tycoon Charoen Sirivadhanabhakdi, struck a deal on Thursday to buy German retailer Metro's cash and carry business in Vietnam for an enterprise value of 655 million $876 million to beef up its retail presence in Vietnam.
Singapore-listed Frasers Centrepoint, a property firm also controlled by Charoen, is in the midst of taking over property firm Australand, and made an unconditional offer for the company also on Thursday.
Berli Jucker will acquire 19 wholesale stores across the country with about 3,600 employees, and once the deal is completed, it will become the second-largest retailer in the grocery market in Vietnam after domestic retailer Saigon Co-op. The...
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