Wal-Mart eyes Hong Kong supermarket chain

|About: Wal-Mart Stores, Inc. (WMT)|By:, SA News Editor

Wal-Mart (WMT) is reportedly considering participating in an auction for Hong Kong supermarket chain ParknShop, which is valued at up to $4B by owner Hutchison Whampoa (HUWHF.PK).

The deadline for initial offers is August 16, with KKR (KKR) among those invited to bid; Blackstone (BX) has held talks with banks about financing.

Wal-Mart, which has over 380 stores in China, could use ParknShop as a platform to expand in the country. The latter operates 345 outlets in Hong Kong, mainland China and Macau, and generated revenue of HK$21.7B ($2.8B) last year.