PTT submits bid to buy Carrefour Thailand assets

PTT PCL said it has submitted a bid to buy the Thai assets of French hypermarket Carrefour SA. PTT President Prasert Bunsumpun, speaking to reporters at a company event, declined to give the value of the bid. Carrefour Thailand opened in 1996 with a capital investment of 10 billion baht (US$325.15 million), according to the company’s website. Prasert said Carrefour’s business could provide synergies with PTT’s non-oil business. The country’s energy conglomerate already operates Jiffy convenience stores at Jet gasoline stations through PTT Retail Marketing. Jiffy stores may expand its business by opening outlets outside gas stations in the future, Prasert said. (September 8, 2010)