China's Trust-mart up for sale

Taiwanese-owned Trust-mart, China's largest foreign-owned retail chain has put itself up for sale, according to a report by the FT. Trust-mart has appointed UBS to advise on the sale, which is expected to attract retail groups like Wal-Mart, Carrefour and Tesco. International retailers are looking to enter the Chinese market, and this sale provides the perfect opportunity to expand their presence.

The Taiwanese retailer, which sells food and household items, is said to generate annual sales of over $1 billion and operates 100 stores in 20 Chinese provinces. This is the same amount of stores as Wal-Mart and Carrefour have combined, making its scale its most attractive quality. Observers say that if the deal goes through, Trust-mart could yield more than its annual turnover. However, they say that it is still early days and the deal could fall through.