After The Withdrawal Of The Chinese Market, TESCO Sold Southeast Asia Business For 10 Billion 600 Million US Dollars.

Today (March 10th) afternoon, it was reported that in March 9th, the sale case of TESCO in Southeast Asia was finalized. The Chia Tai Group defeated the Shang Tai Group and the TCC group, winning 10 billion 600 million of the 335 billion 400 million baht, obtaining 86.9% of TESCO's shares in Thailand, and all of Malaysia's shares. This also marks the re emergence of the lotus supermarket. Return to the embrace of Zhengda Group.

Chia Tai Group said that the transaction is still waiting for the approval of the domestic anti trust regulators. TESCO also pointed out that the transaction case must wait for the consent of the regulatory authorities of Thailand and Malaysia, and is expected to complete the acquisition in the second half of the year.

It is understood that CP Group's CP ALL Volkswagen Limited operates about 11 thousand 7-Eleven convenience stores nationwide, and Shang Tai (Central Group) is a super large department store, shopping mall and supermarket retail group.

Berli Jucker, a subsidiary of TCC group, acquired the shares of Thailand Big C supermarket in 2016 and became a major shareholder. Big C is Thailand's second only to Lotus supermarket and second Dalian lock supermarket system.

In fact, as early as the end of last year, there was news that TESCO plans to sell Thailand and Malaysia supermarket businesses.

According to Sina's December 9, 2019 report, a person familiar with the matter said that TESCO is considering selling its supermarket business in Thailand and Malaysia, with a valuation of up to $9 billion. Only one business in Thailand is worth nearly $7 billion, including real estate assets.

Statistics show that the TESCO Thailand company was founded in 1998 and has 1967 stores. The TESCO Malaysia Company was founded in 2002 and has 74 stores.

It is worth noting that not long ago, TESCO also announced a complete withdrawal from the Chinese market.

In February 25th, the TESCO group announced that it had sold its 20% stake in Huarun Land, a joint venture with Huarun, to a subsidiary of Huarun, priced at 275 million pounds (2 billion 500 million yuan) and completely withdrew from the Chinese market. TESCO said the sale of joint venture equity is to further streamline business and focus on core business, which was completed in February 28th.

In July 2004, TESCO officially entered the Chinese market by buying 50% stake in the Taiwan Tesco supermarket chain group, which costs 140 million pounds. 1 years later, TESCO spent 180 million pounds (about 2 billion 800 million yuan) to buy Tesco 40% stake from the new group, and its shareholding rate rose to 90%, holding a stake in Tesco.

In 2014, TESCO worked with Huarun group to establish a Gain Land joint venture. Huarun held 80% of the joint venture company and TESCO held 20% of the joint venture company. Today, TESCO sells the remaining 20% shares of the joint venture to Huarun department and completes the exit from the Chinese market.