SINGAPORE : Vietnam's Mobile World Investment Corp said on Wednesday it has hired an adviser to explore the sale of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at more than $1.5 billion.
"The deal is expected to complete by the first quarter of 2023," the spokesperson said, declining to comment on valuation and other details, citing confidentiality. Private equity firm CVC Capital Partner is in talks to exit top Indonesia snacks maker GarudaFood Putra Putri Jaya, while Restaurants Development Company is exploring the sale of its KFC franchise business in Thailand, Reuters has reported.
Bach Hoa Xanh started in 2015 as a minimart chain specializing in selling fresh foods and daily basic needs, according to its website.