China Resources has bid for ParknShop, the Hong Kong supermarket chain controlled by Asia’s richest man, the mainland grocery group’s finance chief said after it reported a halving of first-half profits.
ParknShop has attracted at least seven bids of $3bn-$4bn, say people familiar with the process.
Frank Lai, executive director and chief financial officer at China Resources, said ParknShop was well- respected with a long history in Hong Kong – an “open and competitive market” – where it could make a profit.
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