Tesco sells businesses in Thailand, Malaysia for US$10.6b

Tesco Lotus Bangkok. Tesco, Britain's biggest retailer, said on Monday it had agreed to sell its businesses in Thailand and Malaysia to a combination of CP Group entities for an enterprise value of US$10.6bil.

KUALA LUMPUR: Tesco, Britain's biggest retailer, is selling its businesses in Thailand and Malaysia to Thailand's CP Group entities for an enterprise value of US$10.6bil.

The disposal involved Tesco’s entire shareholding in Tesco Stores (Thailand) Ltd, Tesco Stores (Malaysia) Sdn Bhd, it said in a statement on Monday.