The British supermarket chain Tesco has sold its Thai and Malaysian activities for an amount of $ 10.6 billion (€ 9.2 billion). With that, the company has taken the next step by leaving the Asian market. Tesco previously withdrew from other markets in the region such as South Korea, Japan and China, among other things to simplify the structure of the company.
Tesco hands over the activities in Malaysia and Thailand to various companies of CP Group. The company announced at the end of last year that it was thinking about the future of its assets. Tesco promises to distribute the lion’s share of the proceeds, around $ 6.6 billion, to shareholders through a special dividend.
The British chain has around 2000 stores in Thailand, while it has around seventy stores in Malaysia.