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

Frozen seafood segment blows hot and cold
Malaysian stocks see foreign sell-off
Only the best for BESS
Pos Malaysia going the extra mile
New digital banks fuel sector growth in 2024
FBM KLCI poised for upward trend next week
Sydney Cake House takes top spot in AmBank BizRACE Season 4
The cost of comfort
It may become too taxing Down Under
How to win a property bidding war

Others Also Read