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French grocery retailer Auchan mulls Taiwan exit
It is currently looking to identify prospective buyers for its RT-Mart stake.
French grocery retailer Auchan Retail has expressed plans to sell its 65% stake in hypermarket chain RT-Mart in Taiwan for an estimated $300-400m, marking the last step of its exit from Asia, IGD reported.
A search is underway to identify prospective buyers. As the deal is still in primary negotiations, Auchan may yet decide to retain its interest.
Last October, Auchan sold its stake in Sun Art Retail Group to Alibaba for $3.6b. In 2019, it closed stores in Vietnam and sold the remainder of the business to local operator Saigon Co-op.
Auchan entered Taiwan in 1997, where it currently owns 20 hypermarkets and two convenience stores, with a total of 5,500 employees.
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