UPDATE 1-Carrefour starts $1 bln sale of Asia units-sources

* Carrefour to exit Thailand, Singapore and Malaysia-sources

* Goldman Sachs, UBS to run the process – sources

* Sale could fetch more than $1 billion – sources

* Carrefour shares rise 2.3 percent

(Adds details, background)

By Denny Thomas

SINGAPORE, July 5 (BestGrowthStock) – Carrefour (CARR.PA: ) has
launched the sale of units in Malaysia, Singapore and Thailand,
sources with direct knowledge of the matter told Reuters, in a
deal that could raise around $1 billion for the French retailer.

Carrefour is working with investment banks Goldman Sachs
(GS.N: ) and UBS (UBSN.VX: ) on the auction, which is expected to
generate interest from both corporate buyers and private equity
firms, the sources said on Monday.

Carrefour, Goldman and UBS declined to comment.

The sources declined to be identified as the sale process
was still not public. The auction is in its early stages, the
sources said, and like any sale process could change at any

Carrefour, the world’s second-biggest retailer, has exited
Japan and Korea over the years to focus on bigger and
fast-growing markets such as India.

The French group, like many other retailers in Europe and
the United States, has been struggling due to challenging
economic conditions.

The asset could be attractive for other global retailers
that are expanding into Asia, the sources said.

Indonesia’s Para Group, which has banking, media and retail
interests, has said it aimed to raise more than $350 million
from a global bond this year to buy a 40 percent stake in
Carrefour’s local unit. [ID:nJAK393092]

Trans Corp, the media, entertainment, lifestyle and retail
unit of Para Group, wants to increase its stake in PT Carrefour
Indonesia from 40 percent to 100 percent. [ID:nJAK67693]
(Additional reporting by Michael Flaherty and Faith Hung in
Hong Kong, Saeed Azhar in Kuala Lumpur and Noelle Mennella in
Paris; Editing by Michael Shields)

UPDATE 1-Carrefour starts $1 bln sale of Asia units-sources