CP Group to buy Tesco in Thailand for $10bn
CP group will gain control of 1,965 stores Tesco operates in Thailand, many of which Tesco bought from CP during the 1997-1998 Asian financial crisis
09 March 2020 - 13:29
Bangkok/Singapore — CP Group's $10bn deal to buy Tesco’s 2,000 Thai retail outlets marks the end of a three-way tycoon tussle — and the beginning of the first engagement for Thailand's newly powerful antitrust watchdog.
The British grocery chain on Monday chose Dhanin Chearavanont's operator of 12,000 7-Eleven convenience stores over the Chirathivat family's Central Group of Companies — Thailand's biggest retailer by market capitalisation — and beer magnate Charoen Sirivadhanabhakdi's TCC, said people with direct knowledge of the matter...
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