March 9, 2020 / 7:10 AM / a month ago

Tesco sells businesses in Thailand, Malaysia for $10.6 bln

LONDON, March 9 (Reuters) - Tesco, Britain’s biggest retailer, said on Monday it had agreed to sell its businesses in Thailand and Malaysia to a combination of CP Group entities for an enterprise value of $10.6 billion.

Following completion of the disposal, Tesco intends to return about 5.0 billion pounds ($6.6 billion) to shareholders via a special dividend with associated share consolidation. ($1 = 0.7631 pounds) (Reporting by James Davey; editing by Kate Holton)

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