The French parent company of hypermarket operator Big C Supercenter in Thailand, the Casino Group, announced on Friday that it would sell its majority stake in Big C worth $2.6 billion.
Big C shares surged over 14% to a more than eight-month high after the announcement.
Big C is Thailand's second-largest hypermarket operator after Tesco's Thai unit, and has a market capitalization of 163.25 billion baht.