Trust-mart for sale

China’s largest foreign-owned retail chain, Trust-mart, has put itself on the market in a deal that could raise about US$2 billion and attract the interest of international groups such as Wal-Mart, Carrefour and Tesco, the Financial Times reported. UBS is thought to have been appointed to advise on the sale. UBS declined to comment, but people close to the situation told the FT that strong foreign interest was expected. Trust-mart, which has 100 stores in 20 Chinese provinces, is believed to have annual sales of more than US$1 billion.