Chee notes that ParknShop was last up for sale back in 2013 with bids ranging from US$3-4 billion and remains unsold since.
Chee Zheng Feng of DBS Group Research has reservations that the reported combination of Jardine and CK Hutchison's respective Hong Kong-based supermarket chains may go ahead, given the wide disparity in valuation implied by the former's capital parameters and the price tag last floated of the latter.
According to the Financial Times on April 17, Jardine, which runs the Wellcome supermarket chain via its Singapore-listed unit DFI Retail Group, is in talks to acquire the rival ParknShop chain under Li Ka-Shing's CK Hutchison.
