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Britain’s largest retailer Tesco plc’s sale of its business in Thailand and Malaysia to Thai conglomerate CP Group emerged as the largest deal in South-East Asia during the first quarter of 2020.
A common theme in the notes of companies quarterly results is how the movement control order (MCO) and Covid-19 pandemic is affecting their business. Are rental rates in Suria KLCC affected and what mitigating measures are being taken by the company.
TESCO Stores (Malaysia) Sdn Bhd was never a core business for Sime Darby Bhd. The disposal of its 30% stake to CP Group of Thailand for RM300mil may be small relative to Sime Darby’s market capitalisation of RM13.6bil.
HONG KONG/SINGAPORE: Asia's dealmakers are looking to distressed sales and a pick-up in take-private deals after fallout from the coronavirus outbreak sent first-quarter M&A activity to a seven-year low.
KUALA LUMPUR: Sime Darby Bhd is expected to receive RM63mil to RM76mil in special dividend as CP Group buys Tesco Malaysia
KUALA LUMPUR: AmInvestment Research is maintaining its Buy recommendation on Sime Darby with an unchanged sum-of-parts based fair value of RM2.64 a share, pegging an FY21F PE of 11 times to its motor segment.
PETALING JAYA: Britain’s largest retailer Tesco Plc has given the green light to sell its business in Thailand and Malaysia to a combination of Thailand’s CP Group entities for an enterprise value (EV) of US$10.6bil (RM44.63bil or equivalent to £8.2bil).
TESCO Plc agreed to sell its Asian businesses to Thai billionaire Dhanin Chearavanont for more than $10 billion, clinching a record deal in Thailand even as the coronavirus outbreak damps enthusiasm for mergers and acquisitions worldwide.
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.LONDON: 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.