Tesco England announces good news to shareholders, Orange falls, receiving dividends of more than 200 billion baht and setting up a company pension fund for employees. After closing the business deal to CP 18 Dec.
Tesco England opens up to close a historic deal Successfully sold businesses in Thailand and Malaysia Freezing the economic crisis Ready to settle down in Europe only Confident CP’s expertise and world-class experience will lead the business to growth. Ready to upgrade trading partners to grow together in the region
News report from the London Stock Exchange The UK states that TESCO UK has informed that CP Retail Development Company Limited has agreed to the Tesco Store trading conditions in Thailand and Malaysia. An official news will be announced once the transaction has been completed on December 18.
Mr. Ken Murphy, Chief Executive of TESCO UK, said the business sales process will be completed soon, thanks to fellow employees in Thailand and Malaysia who have served in Asia for more than 20 years and have built a strong business. Especially in the past several months that have experienced the COVID-19 crisis. And is very confident that TESCO businesses under the new business owners will grow and develop Because CP Group is a leading business in Thailand Experience in markets throughout Asia. And also has expertise including experience in the retail business They will bring success in the future.
“Selling business in Asia It will enable them to focus on business and customer service in Europe. And will enable the Tesco Group to distribute dividends to shareholders and top up £ 2,500 million to supplement liquidity for the employee retirement fund, ”said TESCO UK CEO, this statement in a document communicating to TESCO UK employees.
The CEO of TESCO UK has been relieved after TESCO UK has been under a pending situation for nearly nine months as it has to wait for consideration by the Competition Commission or the ABC to approve the merger of CP and TES. Tesco Lotus in Thailand After TESCO UK knocked the table to choose CP, a large investor from Thailand to own Tesco Lotus in Thailand and Malaysia, won two other big investors from Thailand as well, Central and ThaiBev, which sent As a result, the operation in Thailand does not stumble. All employees still have a stable job and partners still have the same commercial terms. Confident in business continuity despite COVID-19
Reuters reported that Tesco company in England It plans to recover $ 6.6 billion (1.98 billion) from the sale of the business to CP back to Tesco shareholders. And the rest will be used in retail operations that focus only on the UK and Europe markets. But when the Covid-19 crisis strikes And come face to face obstacles in Thailand that this trade has to be considered by the Competition Commission or the ABC, it makes TESCO UK quite a bit scared. As soon as the board KKU from Thailand has approved the merger and TESCO UK therefore seems to lift the mountains out of the chest, only allowing the CP Group to consider the 7 conditions set out in the resolution of the KKU resolution, which arrived today as It is unofficially known that CP has agreed to the TESCO UK trade, thus it is good news for both Tesco UK shareholders who receive dividends. And employees who will benefit more than £ 2.5 billion to the company’s pension fund.
TESCO UK is the owner of a large UK retail venture. The second largest retailer in the world There are retail businesses under the name TESCO spread throughout the world. TESCO has been in a crisis since 2014. Slumped performance, slumped profits due to cheaper competitors Until having to gradually close branches scattered around the world And later, for consumers to have more online trading behavior, TESCO UK was even more affected.
TESCO’s most recent global sales, ending February 2020, stood at £ 56.5 billion (£ 56.5 bn), with approximately 6,707 branches spread across the world, with 450,000 employees.
2010 Sales in France 2013 Sold in China, Japan and USA 2015 Sold in South Korea 2016 Sold in Turkey 2020 Sold in Poland, Thailand and Malaysia
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