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Thailand’s Central Group selling its stake in Big C

Thailand’s Central Group is a step nearer to settling on Big C Vietnam after selling its stake in Big C Thailand to a rival retailer arch rival TCC Group offering a tender for 25% stake in Big C Supercenter Plc, operator of the hypermarket chain, according to a senior Central executive.

The retailer is expected to gain at least 50 billion baht (US$1.4 billion) from the sale of its 25% holding, said one person close to the sale process.

Led by tycoon Tos Chirathivat Central Group is one of the Thailand’s biggest retailers that lost out to TCC’s flagship retail unit Berli Jucker in the battle to gain control of the Thai unit, but has agreed to pay 920 million euros (US$1.1 billion) for Big C Vietnam.

Thai products are seen by Vietnam’s swelling middle-class as better as and more affordable than Japanese and Korean imports.

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