Online grocer RedMart said to be seeking buyer

Singapore

REDMART Ltd, the Singapore online grocer backed by billionaire Facebook Inc co-founder Eduardo Saverin, is seeking a buyer as competition inten-sifies in the city-state, people with knowledge of the matter said.

RedMart is working with an investment bank on options including a possible sale of the grocer, which delivers products ranging from fresh dragonfruit to frozen dumplings, according to the people.