China Resources Enterprises hopes to speed up the sale of non-core assets to fund the purchase of the Home World hypermarket chain, Reuters reported, citing a report from CLSA. CLSA, which recently hosted China Resources’ non-deal roadshow in Europe, said the company hopes to sell a textile business, a 51% stake in its Esprit China clothing joint venture and a 10% stake in Hongkong International Terminals to fund the acquisition. CLSA said the purchase of Home World from China Resources’ parent would take place over the next two to eight months, but China Resources did not comment on a specific timetable for the deal. Home World operates 73 hypermarkets, mainly in northern China.
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