After Carrefour’s announcement that it is shutting down its stores in Southeast Asia, the French supermarket chain store received offers from more than 12 bidders, including Tesco, the UK grocery retailer, the Japanese Jusco, Giant, and other several local operators. Moreover, the Deputy Trade Minister of Malaysia, Mukhriz Mahathir, said that a lot of hypermarkets intend on fighting for one of divested 23 Carrefour stores in Malaysia alone.

In addition to the Malaysian and the Southeast Asian business, Carrefour is shutting down its stores in Singapore and Thailand as well.

Yeah Kim Leng, the Group’s Chief Economist of RAM Holdings, the Financial Research Firm, commented on the divestment saying it was expected. He added, “The news has been around for some time. It is an open secret that Carrefour wants to pull out from Malaysia, Thailand and Singapore. They have put feelers out to the industry on their plan”.

He added that Carrefour’s store would easily find bidders, and good ones, as the regions, which Carrefour is putting for sale are vital areas and would witness a massive growth in the future. The problem would be a bidder that would match Carrefour’s proposal, according to Mr. Kim. The whole issue would be a ferocious competition.