Chee notes that ParknShop was last up for sale in 2013, with bids ranging from US$3 billion to US$4 billion ($3.01 billion to $5.08 billion) and has remained unsold since.
Chee Zheng Feng of DBS Group Research has reservations about the reported combination of Jardine and CK Hutchison’s respective Hong Kong-based supermarket chains proceeding, given the wide disparity in valuation implied by the former’s capital parameters and the latter’s most recently floated price tag.
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.
