Sime Darby selling Tesco stake to Thailand’s CP Retail for RM300m


Tesco outlet in Tanjung Tokong, Malaysia

KUALA LUMPUR: Sime Darby Bhd is selling its 30% stake in Tesco Stores (Malaysia) Sdn Bhd to Thailand's C.P. Retail Development Company Ltd for RM300mil.

It said on Wednesday its units Sime Darby Allied Products Bhd and Sime Darby Holdings Bhd had entered into conditional agreements with C.P. Retail Development Company Limited, Tesco Holdings B.V. and Tesco PLC to divest its 30% stake in Tesco.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Carlo Rino's IPO public offer oversubscribed 18.43 times
China's zero-tariff policy boon for least developed countries
Oil climbs as Assad's fall brings more uncertainty to Middle East
Asia stocks slip on South Korea turbulence, China disinflation
TNB partners Sembcorp Power to facilitate RE trade
Why Jeff Bezos likes ‘messy’ meetings
GFM Services in discussions to acquire 45% equity in Shapadu Energy
FBM KLCI remains in the red as S.Korea leads Asian markets lower
Swift Energy aims to raise RM70.06mil from ACE Market IPO
3REN unit inks MoU for Invest Penang incentive package

Others Also Read