ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business deals

Tesco buyback a wish come true for CP Group's 80-year-old tycoon

Thai conglomerate's Dhanin regains his 'child' after 17 years in pursuit of retail dominance

CP Group this week reached an agreement with British grocery chain Tesco to purchase its businesses in Thailand and Malaysia for $10.57 billion, one of Asia's biggest deals this year. (Nikkei montage)

BANGKOK -- Thailand's largest conglomerate, Charoen Pokphand Group, will be taking back into its fold a cherished domestic retail unit if its purchase of British grocer Tesco's Thai and Malaysian operations is approved later this year.

CP Group is set to buy Tesco Lotus, which runs 1,967 Thai stores, and Tesco Malaysia, the operator of 68 shops, through the conglomerate's convenience store arm CP All and three other units for $10.57 billion.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more