US retail giant Walmart is reportedly eyeing a bid for Hong Kong supermarket chain ParknShop.

Walmart will join companies interested to acquire ParknShop such as Japanese retailer Aeon, Chinese retailers China Resources Enterprises and Sun Art Retail Group, Australian retailers Wesfarmers and Woolworths and private equity firm KKR.

ParknShop parent Hutchison Whampoa has set August 16 as deadline for interested bidders to lodge initial bids for the supermarket chain which is for sale for $4 billion.

Walmart, which operates more than 380 stores in China, is facing tough challenges from domestic players such as Sun Art Retail Group, China’s largest hypermarket operator.

While a tough retail environment awaits the buyer of ParknShop, still many companies are attracted to acquire the chain as they could use it to expand business in China.

Hutchison Whampoa has appointed Goldman Sachs Group and Bank of America Merrill Lynch to manage the sale of ParknShop, which has 345 stores in Hong Kong, mainland China and Macau.