Carrefour has launched the sale of its units in Malaysia, Singapore and Thailand, sources with direct knowledge of the matter told Reuters on Monday, in a deal that could raise around $1 billion for the French retailer.
Carrefour is working with investment banks Goldman Sachs and UBS on the auction, which is expected to generate interest from both corporate buyers and private equity firms, the sources said.
Carrefour, Goldman and UBS declined to comment.
The sources declined to be identified as the sale process was still not public. The auction is in its early stages, the sources said, and like any process, the sale could change at any moment.