Tesco sells businesses in Thailand, Malaysia for $10.6 billion

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 (£8.10 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.