Tesco checks out of Asia in €8.8bn sale

Tesco agreed to sell its Asian businesses to Thai billionaire Dhanin Chearavanont for more than $10bn (€8.8bn), clinching a record deal in Thailand even as the coronavirus outbreak damps enthusiasm for mergers and acquisitions worldwide.

Tesco checks out of Asia in €8.8bn sale
Mon, 09 Mar, 2020 - 18:25
Bloomberg

Tesco agreed to sell its Asian businesses to Thai billionaire Dhanin Chearavanont for more than $10bn (€8.8bn), clinching a record deal in Thailand even as the coronavirus outbreak damps enthusiasm for mergers and acquisitions worldwide.

Tesco said it plans a $6.6bn special dividend after the sale of the assets to Mr Chearavanont’s Charoen Pokphand Group.

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CourtsRetail sectorPlace: AsiaPlace: ThailandPlace: ChinaPlace: BangkokPlace: LondonPlace: MalaysiaPerson: Dhanin ChearavanontPerson: ChearavanontPerson: Maria LapizPerson: ChirathivatPerson: Clive BlackOrganisation: TescoOrganisation: Charoen Pokphand GroupOrganisation: Carrefour ofOrganisation: Metro of GermanyOrganisation: MetroOrganisation: CarrefourOrganisation: Tesco LotusOrganisation: DhaninOrganisation: CP GroupOrganisation: Siam MakroOrganisation: SHV HoldingsOrganisation: Maybank Kim Eng Securities ThailandOrganisation: Central GroupOrganisation: BloombergOrganisation: Shore Capital
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