Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime
Provider: Wright Reports

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Tesco Plc And China Resources Enterprise Ltd Sign Memorandum Of Understanding To Create The Multi-format Retailer In China

Friday, 9 Aug 2013 02:00am EDT 

Tesco PLC and China Resources Enterprise, Limited announced that they have entered into a Memorandum of Understanding and are in exclusive talks to combine their Chinese retail operations to form the multi-format retailer in China. The partnership would bring together CRE's deep understanding of local customers, established nationwide infrastructure and track record as a partner with Tesco's global retail experience, international sourcing scale and supply chain capabilities. The proposed joint venture would create a business with sales of some £10bn, in which CRE and Tesco's effective interests are expected to be 80% and 20% respectively. The transaction is subject to further due diligence and agreement of final terms. There is no certainty that a transaction will occur.