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

3REN unit inks MoU for Invest Penang incentive package
Foreign selling on Bursa Malaysia continues with net outflow of RM761.4mil
Proton registers sales of 12,194 units in Nov
Ringgit slightly higher against greenback amid mixed US labour data
Profit-taking returns as consolidation continues on Bursa Malaysia
Trading ideas: Itmax, Tanco, E&O, Inta Bina, Crescendo, OSK, SNS, Cypark, BFood, KIP REIT, Kawan, FSBM, Colform, Winstar
Electronics industry needs policy backing
Time for South Korea to become a G9 member
Malaysian stocks see foreign sell-off
Steady gold demand fuels Poh Kong’s optimism

Others Also Read