Wal-Mart in running for Carrefour's Japan stores

2nd December 2004, Comments 0 comments

PARIS, Dec 2 (AFP) - The US retail behemoth Wal-Mart and two Japanese distributors are bidding for eight Japanese hypermarkets run by Carrefour of France, the Wall Street Journal reported Thursday, quoting a source familiar with the deal.

PARIS, Dec 2 (AFP) - The US retail behemoth Wal-Mart and two Japanese distributors are bidding for eight Japanese hypermarkets run by Carrefour of France, the Wall Street Journal reported Thursday, quoting a source familiar with the deal.

All three bids value Carrefour's Japanese operations at more than USD 300 million (EUR 225 million), the report said.

In addition to Wal-Mart, Japanese retailers Aeon and Izumiya are interested in expanding their operations to the kind of very large stores common in the United States and Europe.

The winner "would get a leg up in a heated race among Japan's retailers to transform their cramped, multi-storey outlets into high-tech, wide-aisled super centres of the kind found in the US," the newspaper said.

Wal-Mart and Aeon "are battling to become Japan's top purveyor of low-priced merchandise," it added.

All four companies declined to comment on the report.

Carrefour, the second biggest retailer worldwide after Wal-Mart, was selling its Japanese stores as sales at home and elsewhere in Europe are stalling, the newspaper said.

© AFP

Subject: French News

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