Auchan's exit from Vietnam gets interest from potential buyers

Source: reuters, Thursday, May 16, 2019

French supermarket group Auchan Retail’s plans to sell its loss-making business in Vietnam is already drawing interest from potential buyers, a company spokesman told Reuters.

Earlier, Auchan Retail CEO Edgar Bonte told newspaper Les Echos that the group had decided to sell its 18 stores in Vietnam. Those Vietnam outlets currently generate revenue of EUR45 million (USD50.4 million). The exit from Vietnam follows Auchan’s deal earlier this week to sell almost all the activities of its loss-making Auchan Retail Italia arm to Conad, the Italian co-operative retail group.