UK retailer Tesco sells Thailand, Malaysia operations for £8 billion
UK retailer Tesco has agreed to sell its businesses in Thailand and Malaysia to Thai conglomerate CP Group for £8 billion. – EPA pic, March 9, 2020.
BRITAIN’S biggest retailer Tesco said today that it has agreed to sell its businesses in Thailand and Malaysia to Thai conglomerate CP Group for £8 billion “Following inbound interest and a detailed strategic review of all options, we are announcing today the proposed sale of Tesco Thailand and Tesco Malaysia,” said outgoing chief executive Dave Lewis in a statement, adding the supermarket chain would return £5 billion of the proceeds to investors.
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