date:Aug 23, 2013
China Resources Enterprise Ltd, a mainland-based retail and beer conglomerate, said it may partner with United Kingdom-based grocery chain Tesco Plc to bid for billionaire Li Ka-shing's Hong Kong supermarket chain.
CRE said it may raise debt and does not rule out selling non-core assets to fund the planned ParknShop acquisition.
CRE's Chief Financial Officer Frank Lai confirmed on Tuesday, at the company's annual earnings news conference, that CRE has submitted a bid for ParknShop at a reas