Dow Jones reports that Delhaize Group, the Belgium-based retailer, is considering selling its 49 percent share in Singapore retailer Shop N Save.
The reason? An unnamed company offered to buy its ownership of the 36-store company; the same company also apparently has made an offer for the other 51 percent owned by Singapore-based food company QAF Ltd.
Delhaize management says that it is considering the offer, but that no decision has been reached; if it does make the sale, it will help the company reduce its debt load.
While the company has operations in three Asian countries - Thailand, Indonesia and Singapore - its assets in that part of the world only account for 1.2 percent of total company sales. And, Delhaize says that even if it sold its Singapore assets, it will keep the other Asian businesses.
The reason? An unnamed company offered to buy its ownership of the 36-store company; the same company also apparently has made an offer for the other 51 percent owned by Singapore-based food company QAF Ltd.
Delhaize management says that it is considering the offer, but that no decision has been reached; if it does make the sale, it will help the company reduce its debt load.
While the company has operations in three Asian countries - Thailand, Indonesia and Singapore - its assets in that part of the world only account for 1.2 percent of total company sales. And, Delhaize says that even if it sold its Singapore assets, it will keep the other Asian businesses.
- KC's View:
- What are the odds that the unnamed bidder is Wal-Mart?
