China’s CDH Investments is in advanced talks to buy a minority stake in Bach Hoa Xanh from Vietnam retailer Mobile World, in a deal that could value the grocery chain at up to $1.7 billion, two sources with direct knowledge said, reports Reuters. CDH, one of China’s biggest alternative investment firms and also a former Mobile World investor, has emerged as the frontrunner to buy a stake of up to 10% after outbidding rivals, the sources said.
“CDH is looking to buy between 5% to 10% stake,” one of the sources said, adding that deliberations were ongoing and there was no certainty that a deal will be sealed.
The second source said a deal “could be struck as early as next month if negotiations were successful.”