Thai tycoons in fray as Tesco sets bid deadline for $9 billion Asia business - sources [Reuters]
TESCO PLC S/ADR (TSCDY)
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Source: Reuters
Thai tycoons in fray as Tesco sets bid deadline for $9 billion Asia business - sources SINGAPORE (Reuters) - British retailer Tesco has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to $9 billion, sources with direct knowledge of the matter said. The bidding is shaping up as a battle between Dhanin Chearavanont’s Charoen Pokphand (CP) Group, Central Group, controlled by the Chirathivat family, and beer-and-property magnate Charoen Sirivadhanabhakdi’s TCC Group, they said. Tesco’s Asian operations comprise some 2,000 supermarket outlets and convenience stores in Thailand, where it is one of the biggest retail players, and 74 stores in Malaysia. “This is a very competitive process pursued by serious bidders. Looking at the deal size and financing perspective, most large banks are involved,” said one banking source who did not want be identified as the information is confidential. Antitru
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