| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Tesco to seal $10.6bn sale of Asian assets this month following antitrust nod
StockMarketWire.com
|
Supermarket group Tesco said it expected to completed a planned $10.6 billion sale of its businesses in Thailand and Malaysia later this month following the satisfaction of all the deal's conditions.
Tesco had agreed in March to sell the assets to CP Group, which had now received a go-ahead from Thailand's competition regulator.
Malaysia's antitrust regulator had approved the transaction last month.
Teseco said the sale was expected to complete on or around 18 December.
The company intends to return about £5 billion of the proceeds to shareholders via a special dividend, which was expected to be paid out on or around 26 February.
It also would make a £2.5 billion to its pension scheme.
'This sale allows us to focus on our businesses across Europe and to continue delivering for customers, make a significant contribution to our pension deficit and return value to shareholders,' chief executive Ken Murphy said.
Story provided by StockMarketWire.com
|
|
|
|
|
|
