Thai tycoon gets conditional antitrust nod for US$10.6 billion Tesco assets buy

The agency's approval marks the exit of Tesco's 22-year-presence in Thailand under the Tesco Lotus brand. - Reuters

BANGKOK, Nov 7 (Bloomberg): Charoen Pokphand (CP) Group won the Thai antitrust agency’s approval for its US$10.6 billion acquisition of British retailer Tesco Plc’s local retail business with some conditions.

Billionaire Dhanin Chearavanont’s CP Group is barred from other modern-retailing mergers for three years, excluding e-commerce, Thailand’s Office of Trade Competition Commission said Friday, while clearing the deal announced almost eight months ago.