Thai conglomerate takes over METRO Cash & Carry Vietnam (Source :VNA)

HCM City (VNA)
– Vietnam’s METRO Group announced on January 7 that Thailand’s TCC Group finalised procedures in the purchase of METRO Cash& Carry Vietnam.

Accordingly, the TCC Group bought up all facilities of the Vietnamese METRO Cash & Carry , including 19 wholesale centres and related real estate’s worth 655 million Euro (710 million USD).

After the deal’s successful completion, Berli Jucker Public Company Limited (BJC), a subsidiary of the TCC Group will manage METRO’s operations. This will include the existing large retail business that METRO developed over the past 14 years of trading, while also seeking to exploit potential new markets.

METRO Cash & Carry Vietnam will continue to hold its current name and other development targets, products, and services to meet demand of more than one million regularcustomers in the Vietnamese market.

Operating in wholesales since 2002, METRO Cash & Carry Vietnam has 19 centres across the country and over 3,300 workers.

Prior to the acquisition of METRO, TCC Thailand’s subsiduary BJC Ltd. took over the Family Mart convenient store chain - a coalition between Phu Thai Group and Japan’s Itochu - and re-named it as B’smart.-VNA