Four “finalists” remain in fight to buy ParknShop

Japan’s Aeon and China Resources Enterprise are favorites.

Four companies remain in the race to acquire Hong Kong retailer ParknShop.

Sources said the final four consist of Australian retailer Woolworths Ltd; Thailand's Charoen Pokphand Group; Japanese retailer Aeon and China Resources Enterprise.

ParknShop was put on the block by Hong Kong conglomerate Hutchison Whampoa, which said it was considering strategic options for the business at the end of July.

ParknShop operates 345 stores in Hong Kong, mainland China and Macau. It earned US$2.8 billion in revenue last year. Some 270 stores are in located in Hong Kong.