Wal-Mart Interested In Indonesia Assets

Wal-Mart WMT, the world's largest retailer, is among the parties interested in Indonesian retailer Matahari's hypermarket operations in a deal that could be worth up to $1 billion. The Dow component is expected to square of against private equity titan Carlyle Group and South Korea's Lotte Shopping, according to Reuters. Sources have not confirmed whether Wal-Mart has actually submitted a bid, but they did say the company has hired Barclays BCS to advise it on a possible deal. Matahari is selling Hypermart, Indonesia's second-biggest hypermart chain after PT Carrefour Indonesia, to focus on its core healthcare and property assets, Reuters reported. Facing slumping growth in the U.S., Wal-Mart is looking to emerging markets to jolt sales. The company has been reported to be interested in acquisitions in Africa.