UPDATE 2-Thai Big C shares surge after parent Casino says

Thailand’s TCC Group has agreed to pay Bt123 billion for France-based the Casino Group’s 59 per cent stake in Big C Supercentre, according to the Wall Street Journal. BANGKOK - Thailand's biggest retailer, Central Group, said it may bid for French supermarket firm Casino Group's Thai and Vietnam stores, seeking control of a business it already partly owns as a platform for growth in fast-growing Southeast Asia. Since 17 March 2020, Casino Group’s 220,000 employees in France, Brazil, Colombia, Uruguay, Argentina and the Indian Ocean have rallied to continue supplying our 11,172 stores and serving millions of customers every day. They are doing their jobs efficiently, humbly and professionally, giving a fresh sense of nobility to the trade. That is what retail is all about. Discover. Finance. Net UPDATE 2-Casino Group to sell Big C stake to Thai TCC Group. By Denny Thomas, Khettiya Jittapong. 3 Min Read * Casino to sell 58.6 pct stake for $3.5 bln excluding debt * Casino’s asset sales Big C is Thailand’s second-largest hypermarket operator after Tesco’s Thai unit, and has a market capitalisation of 163.25 billion baht ($4.49 billion). Casino, which owns 58.6 percent of Big Groupe Casino has agreed to sell its stake in Thailand’s Big C Supercenter to the country’s TCC Group for €3.1bn excluding debt in a deal that will help the French retailer halve its net debt.

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