CP Group to buy Tesco's Thai and Malaysian business in deal valued at $10.6 billion

  • 📰 Reuters
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Charoen Pokphand (CP) Group said on Tuesday its board approved a deal for its su...

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines