BANGKOK: Thailand's competition regulator has given the nod for British retail giant Tesco to sell its supermarket businesses to the Charoen Pokphand Group, despite monopoly concerns.
The regulator said CP Group is not allowed to pursue other retail merger deals during the next three years. It is a boomerang sale of sorts - Tesco has nearly 2,000 grocery stores across Thailand which it bought from CP Group during the Asian financial crisis in 1997 to 1998.The Chearavanont family and its patriarch Dhanin, who control CP Group, are worth an estimated US$27.3 billion and top Thailand's list of 27 billionaires, according to Forbes.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesco gets nod for sale of Thailand supermarket business[BANGKOK] Thailand's competition regulator has given the nod for British retail giant Tesco to sell its supermarket businesses to the Charoen Pokphand Group (CP Group), despite monopoly concerns. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Tesco says conditions satisfied for US$10.6 billion sale of Asia businessBritain's biggest retailer Tesco said on Wednesday all conditions had been satisfied for the US$10.6 billion sale of its businesses in Thailand ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tesco gets nod for sale of Thailand supermarket business[BANGKOK] Thailand's competition regulator has given the nod for British retail giant Tesco to sell its supermarket businesses to the Charoen Pokphand Group (CP Group), despite monopoly concerns. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Tesco says conditions satisfied for US$10.6 billion sale of Asia businessBritain's biggest retailer Tesco said on Wednesday all conditions had been satisfied for the US$10.6 billion sale of its businesses in Thailand ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »