French retailer Casino is to acquire a 66% stake in Thai distribution group Big C Supercenter. Big C is currently owned by the Chirativat family, who will issue 530 million new shares, thereby tripling registered capital to Bt8bn (??195.6m).

Besides the shares that will be sold to Casino, it is understood that Thailand's Saowanee Holding will also acquire a percentage in Big C. Although the exact size of their respective stakes is not yet known, Casino will be the major shareholder.

Casino told the press that Big C reported turnover of FF3.2bn (??487.8m) in 1998, but the group last posted profits in 1995. The injection of capital will be used to pay off debt, and industry analysts expect that Casino's experience and technology will help the Thai group turn itself around and eventually expand in what has potential to become a highly dynamic food retail market.

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