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Thai conglomerate to buy UK retailer’s business in Thailand, Malaysia

Thai conglomerate Charoen Pokphand (CP) Group said on March 9 that it will buy British retailer Tesco’s Thai and Malaysian businesses in a deal valued at 8 billion GBP (10.6 billion USD).
Thai conglomerate to buy UK retailer’s business in Thailand, Malaysia ảnh 1A Tesco shopper in Bangkok (Source: www.bangkokpost.com)

Hanoi (VNA) – Thai conglomerateCharoen Pokphand (CP) Group said on March 9 that it will buy British retailerTesco’s Thai and Malaysian businesses in a deal valued at 8 billion GBP (10.6billion USD).

Tesco intends to return about 5 billion GBPto shareholders via a special dividend with associated share consolidation.

The Bangkok Post quoted chief executive ofCP Group’s subsidiary Charoen Pokphand Foods Prasit Boondoungprasert as sayingthat the investment is subject to the full satisfaction of conditionsprecedent, including approval of shareholders and of Thai and Malaysianauthorities.

The transaction is expected to be concludedby the end of this year./.
VNA
#Thai conglomerate Charoen Pokphand Group #CP Group #British retailer Tesco #conditions precedent #vietnamplus #Vietnam News Agency Malaysia Thailand
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