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Wumart, Yonghui Enter Into Final Race for Metro's China Unit

  • Business could be valued at $2 billion as competition heats up
  • Suning drops out after agreeing to buy Carrefour China unit
relates to Wumart, Yonghui  Enter Into Final Race for Metro's China Unit
Photographer: Stephen Shaver/Bloomberg
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Chinese supermarket operator Wumart Stores Inc. and an investor group backed by rival Yonghui Superstores Co. are among suitors that proceeded to the final round of bidding for German food wholesaler Metro AG’s China business, people with knowledge of the matter said.

Yonghui has teamed up with Hillhouse Capital, according to the people, who asked not to be identified because the information is private. Tencent Holdings Ltd. is in talks to join their consortium, the people said. A group consisting of Meicai, a Chinese startup that helps farmers sell vegetables to restaurants, and Hopu Investment Management Co. have also been picked for the final round, the people said.