A view of the entrance to a Tesco Lotus retail shop in Bangkok, Thailand, January 18, 2020. Picture taken January 18, 2020. REUTERS/Chayut Setboonsarng
SINGAPORE/BANGKOK - Charoen Pokphand Group said on Tuesday its board approved a deal for its subsidiaries to buy up 86.9% of the Thai business of British retailer Tesco and 100% of the retailer’s Malaysian business in a deal valued at $10.6 billion.Citing sources, Reuters reported on Sunday that CP was the frontrunner to buy Tesco’s Thai and Malaysian assets in a potential deal that could be worth just over $10 billion.
Reporting by Anshuman Daga in Singapore and Chayut Setboonsarng in Bangkok; Editing by Christian Schmollinger
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