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BANGKOK: Thailand's antitrust regulator said on Friday it had approved CP Group's deal to buy Tesco PLC's retail stores in the country.
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.