Casino Big C Thailand
Big C has a market value of 163.25 billion baht (US$4.49 billion) in Thailand, and total rental space of 800,000 sqm. Groupe Casino holds 58.6 per cent of the total paid-up capital. Its annual sales in Asia – Thailand and Vietnam – were up 13. 1 per cent from 2014 at 3.97 billion euro ($4.33), but organic growth was down 0.8 per cent.
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By Nick Kostov in Paris and P.R. Venkat in Singapore
In a statement on Tuesday, Casino, the majority shareholder in Big C supermarkets, will also sell some of its real estate in Thailand and Colombia, according to the Bangkok Post. With 32 Big C outlets nationwide, including eight in HCM City, Big C ranks second among retailers in Vietnam after Co.op Mart. HONG KONG/BANGKOK, Feb 7 (Reuters) - France’s Casino Group has agreed to sell its majority stake in Thai hypermarket operator Big C Supercenter for 3.1 billion euros excluding debt ($3.5 billion). Big C, operated by Berli Jucker, has set aside THB6.5bn (US$214m) to expand in Thailand and overseas. Confidence in domestic market. The retailer will invest THB5.5bn (US$181.3m) in Thailand to open five to seven new Big C hypermarkets and 300 to 400 mini Big C stores in 2020. Another THB500m (US$16.5m) will be spent on IT facilities. Casino is to sell its Big C Vietnam business to Thai conglomerate Central Group for €1bn ($1.1bn) including debt, giving the French retailer further respite from a debt pile that pushed its.
Groupe Casino SA has agreed to sell its stake in Thai hypermarket operator Big C Supercenter PLC for EUR3.1 billion ($3.46 billion) to a Thai billionaire, according to people familiar with the matter, marking a major step in the French grocer’s plans to cut its debt.
Thai tycoon Charoen Sirivadhanabhakdi’s holding company, TCC Group, will buy Casino’s 58.6% stake in Big C Thailand for 252.88 baht a share ($7.10), these people said. They added that an agreement between the two could be announced before the market opens in Asia on Monday morning.
The sale is a key step in Casino’s attempts to reduce its debt pile. The retailer launched a EUR4 billion deleveraging plan in 2016 which includes selling its stake in the Thai supermarket as well as Vietnam retail assets. Ratings agency Standard & Poor’s in January put the French retailer’s debt on “negative watch” for a possible downgrade to junk status, citing concerns over weakness in Brazil and the retailer’s high debt pile.
The sale, which is expected to complete on March 31, will allow Casino to hit 80% of its EUR4 billion deleveraging target, the people said.
Casino makes about 40% of its sales in Latin America, where a prolonged recession in Brazil has led to falling sales and declining profitability. Management remains bullish on Brazil, but the slowdown has made it more difficult for Casino to support the same level.
In December, the grocer disclosed plans to sell its Vietnamese retail operation and some of its real-estate holdings in Colombia–sales of which are ongoing.
In the process of selling its Vietnam unit, Casino received a number of expressions of interest for its larger Thai unit and decided to sell that asset as well.
For Mr. Charoen, the deal boosts his retail presence in Thailand. He already owns a listed consumer products company called Berli Jucker PCL, which has interests from trading to packaging and retail. Last month, Mr. Charoen’s TCC Group closed a EUR655 million acquisition of Metro Group’s cash & carry wholesale business in Vietnam.
In recent years, deal hungry Thai tycoons like Mr. Charoen, the son of an ethnic Chinese street vendor in Bangkok, have been among the biggest spenders in the region.
Mr. Charoen started a small distillery with partners after dropping out of school and successfully bid for government liquor concessions in Thailand. Since then, he has expanded his business to include wide-ranging interests from real estate to finance and agriculture. He became a household name in 2013 when he bought a controlling stake in Singapore-listed conglomerate Fraser & Neave that valued the firm at $11 billion.
Casino entered the Thai market in 1999 when it acquired a stake in Big C, before adding rival Carrefour SA’s Thai operations in early 2011. Big C is now Thailand’s second-largest hypermarket operator after Tesco PLC’s Thai unit.
As of September last year, Big C and its subsidiaries operated 697 stores in Thailand. The company posted net profit of $38 million for the third quarter ended in September, down 14.5% over the same period last year.
Write to Nick Kostov at Nick.Kostov@wsj.com and P.R. Venkat at venkat.pr@wsj.com
French owner of Big C has too much debt & will sell Thai & Vietnam companies to deal with problem. Big C share prices shoot up 14%.
UPDATE
Central Group eyes Casino's units in Thailand, Vietnam
Thailand's largest retailconglomerate Central Group is keen to bid for Casino Group's Thai and Vietnam operations, a company executive said.
Casino owns 58.6% of Big C Supercenter Plc, which has a total a market value of $5.5 billion.
Casino said last week it was keen to sell this stake after announcing it would sell its Vietnam unit in the first quarter.
'We are interested in both Big C in Thailand and Vietnam,' Prin Chirathivat, deputy chief executive officer told Reuters.
'If the prices are not too expensive, we will be keen to bid,' Mr Prin said adding his family, the Chirathivats, has a combined 25% stake in Big C.
Central has been actively looking to buy assetsoverseas as it wants to expand into Southeast Asia and Europe.
Source: Reuters News agency here
Big C Stores In Thailand
RETAIL & FOERIGN INVESTMENT
Big C sharessurge after parent Casino says to sell stake
15/01/2016
Online Reporters
The French parent company of hypermarketoperator Big C Supercenter in Thailand, the Casino Group, announced on Friday that it would sell its majoritystake in Big C worth $2.6 billion.
Big C shares surged over 14% to a more than eight-month high after the announcement.
Big C is Thailand's second-largest hypermarketoperator after Tesco's Thai unit, and has a market capitalisation of 163.25 billion baht.
WHO ARE THE BUYERS?
Casino, which owns 58.6% of Big C, said buyers had already expressed interest in the Thai group.
'The group is taking steps towards the sale of this asset,' Casino said in a statement.
The expressions of interest came as Casino went through the process of selling its Vietnam unit, Casino said.
Central Group and companies linked to tycoon Charoen Sirivadhanabhakdi have shown interest in expanding into Vietnam and may be among the potential buyers for that unit.
The Thai Big C business may also be attractive to them.
Neither company's spokespeople were able to give immediatecomment on Friday.
Bankers familiar with Thailand expect other Thai business groups will also be in the mix.
FRENCH RETAILER DANGEROUSLY LEVERAGED
The unexpectedmove to sell the Thai unit came after a report by short-seller Muddy Waters in December that said the French retailer was 'dangerously leveraged', prompting the worst slide in Casino's stock in seven years.
'This announcement comes as a surprise and may illustrate the degree of distress of the company,' Barclays analysts said in a researchnote on Thursday.
Casino aims to sell its Vietnam unit in the first half of 2016 as part of a €2-billion plan to reducedebt.
BIG C PROFITABLE & VALUABLE
The researchnote said Big C was a valuable and profitableasset with an estimated Ebitda (earnings before interest, taxes, depreciation and amortisation) margin of 6.7% for financial year 2016, against Casino's 3.4%.
Casino's Big C unit in late 2010 bought Carrefour SA's Thai assets in a deal then valued at $1.2 billion.
http://www.bangkokpost.com/business/news/827800/big-c-shares-surge-after-parent-casino-says-to-sell-stake
Learn from listening
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Vocabulary:
aim : to have as your purpose or goal - มีเป้าหมาย มีจุดมุ่งหมาย
analyst : a person whose job involves examining facts or materials in order to give an opinion on them - นักวิเคราะห์
announce : to tell people something officially, especially about a decision, plans, etc - ประกาศ, แจ้ง, แจ้งให้ทราบ
announcement : a spoken or written statement that informs people about something - การประกาศ
asset : a thing of value - สิ่งที่มีคุณค่า
bid : to offer to buy or provide something at a specific price - ยื่นเสนอราคา
chief executive officer (CEO) : the person with the highest rank in a company or an organisation - ผู้บริหารสูงสุด, ซีอีโอ (ประธานบริหาร)
combined : to mix or put together - รวมกัน
comment (noun): expressing an opinion - การแสดงความคิดเห็น
conglomerate : a large company formed by joining together different firms - กลุ่มบริษัทในเครือ
debt (noun): an amount of money that you owe - หนี้, นี้สิน
degree : an amount of something - ระดับ
depreciation (noun): a gradual decrease in the value of machinery or buildings or other asset over a long period of time, as recorded in a company's accounting system - ค่าเสื่อมราคา การปรับปรุงค่าเสื่อมราคา
deputy : a person whose rank is immediately below that of the leader of an organisation - รอง
distress : a feeling that you have when you are very unhappy, worried or upset - ความกังวลใจ
estimated : thought to be a particular amount, size, etc. based on a guess or the best information available - ประมาณการ
executive : a senior manager in a business or other organisation - ผู้บริหาร
expand : to make or become larger (noun form: expansion) - ทำให้กว้าง, ทำให้ขยาย
expensive (adj): costing a lot of money - แพง
expressed interest : say that you want to buy something, such as a company -
expressions of interest : companies or people saying that they want to buy something -
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familiar : well known to you, or easily recognised by you - คุ้นเคย
financial : involving money - เกี่ยวกับเงิน, ทางการเงิน
group (noun): a business group, a large company that owns other companies -
hypermarket : a very large supermarket, usually built outside a town, that sells a wide range of goods - ห้างสรรพสินค้า
illustrate : to show what something is like, or to show that something is true - แสดงให้เห็น
immediate (adj): happening or done now, without any delay - ทันที; ทันทีทันใด
in the mix : in the group of people or companies doing something -
keen : very interested in an activity - สนใจอย่างยิ่ง
leverage (noun): borrowing money - การยืมเงิน, การลงทุนโดยใช้วิธียืมเงินผู้อื่น
linked : connected - เชื่อมต่อ เชื่อมโยง
majority (noun): more than half of something - ส่วนใหญ่, ส่วนใหญ่ที่สุดของกลุ่ม
margin : profit margin; the difference between the cost of buying or producing something and the price that it is sold for - ค่าแตกต่างระหว่างราคาทุนกับราคาขาย
market capitalisation : 'Market capitalization (or market cap) is the total value of the issued shares of a publicly traded company; it is equal to the share price times the number of shares outstanding. As outstanding stock is bought and sold in public markets, capitalization could be used as a proxy for the public opinion of a company's net worth and is a determining factor in some forms of stock valuation.' (Source: Wikipedia) - มูลค่าตามราคาตลาด; มูลค่าโดยรวมของหุ้นสามัญของบริษัทใด ๆ ที่คำนวณขึ้นโดยใช้ราคาตลาดของหุ้นนั้นคูณกับจำนวนหุ้นสามัญจดทะเบียนทั้งหมดของบริษัทดังกล่าว [ตลาดทุน]
move (noun): action -
note (verb): to mention something because it is important or interesting -
operations : the activity or work done in an area of business or industry - ปฎิบัติการ
operator (noun): a person or company that runs a business - ผู้ดำเนินกิจการทางธุรกิจ, ผู้ประกอบธุรกิจ
overseas : in another country - ต่างประเทศ
parent company (noun): a company that owns or controls another company - บริษัทแม่
potential (noun): possibility - ความเป็นไปได้, ที่อาจเกิดขึ้นได้
process : a series of actions that you take in order to achieve a result - แนวทางปฏิบัติ, กระบวน, วิธีการ
profitable : able to earn money and expenses are subtracted - ให้ผลกำไร,ได้ผลประโยชน์
prompting : causing - ก่อให้เกิด
quarter (noun): three months of the year on the official calendar of the government or companies - ไตรมาส
reduce : to make something smaller or less in amount, size, importance etc - ลดลง
research : a careful study of a subject, especially in order to discover new facts or information about it - การวิจัย
retail : to sell directly to the public for their own use - ขายปลีก
retailer : a person or company that sells goods directly to the public for their own use - ผู้ขายปลีก
share : any of the units of equal value into which a company is divided and sold to raise money. People who own shares receive part of the company's profits - หุ้น
short-seller : a stock trader who sells stock shares they don't own yet, because they expect the price to go down, they will buy stock in future and make profit from price difference -
slide (verb): (past form 'slid') to decrease; to fall -
spokespeople : people who speak on behalf of a group or an organization - โฆษก
stake : a share or a financial involvement in something such as a business - ส่วนได้เสีย
statement : something that you say or write that gives information or an opinion - แถลงการณ์, คำแถลง
step : one of a series of actions that you do in order to achieve a particular aim - ขั้นตอน
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stock (noun): a share that somebody has bought in a company or business - หุ้น, หุ้นทุน
surge : a sudden increase in something - การเพิ่มขึ้นอย่างรวดเร็ว
surprise (verb): to make somebody feel surprised (a feeling caused by something happening suddenly or unexpectedly) - ทำให้ประหลาดใจ, ทำให้แปลกใจ, ทำให้ตื่นใจ
tycoon : a person who has succeeded in business or industry and has become very rich and powerful - นักธุรกิจที่ร่ำรวยและมีอิทธิพลมาก
unexpected (adj): surprising way because you were not expecting it - ไม่คาดฝัน, น่าประหลาดใจ
unit : a part of a company or organisation that carries out a particular function; a group of people who work or live together, especially for a particular purpose - หน่วย,กอง,กลุ่ม
valuable : worth a lot of money - มีค่า
value : how much something is worth in money or other goods for which it can be exchanged - มูลค่า
worth : having a value in money, etc - มีค่า, มีมูลค่า