This year the target pay-out of 50% of earnings is expected to be reached.It is from this strengthened position that the Board has decided to respond to the expressions of interest it received for the Tesco Thailand and Tesco Malaysia. Tesco acquired a 50% stake in the Hymall chain, from Ting Hsin in September 2004. Tesco has accepted a US$10.6 billion bid for its Asian businesses from a consortium of companies controlled by Thai billionaire Dhanin Chearavanont. Tesco’s businesses in Thailand and Malaysia comprise of Tesco’s entire shareholding in Tesco Stores (Thailand) Limited (“Tesco Thailand”), Tesco Stores (Malaysia) Sdn Bhd (“Tesco Malaysia”) and any respective subsidiaries (together, the “Asia Business”).The Disposal will simplify the Tesco Group, enabling a stronger focus on its retail businesses in the UK and Ireland and in Central Europe. Quick Links In addition, the Group has completed the merger with Booker, combining the largest wholesale food business in the UK with the largest food retailer and unlocking significant shareholder value in the process. Britain’s biggest supermarket chain, Tesco Plc, is considering the sale of its operations in Thailand and Malaysia as it refocuses on the domestic business amid mounting challenges in the U.K. Tesco's debt pile was £14.7bn, as of last October, including a £2.1bn pension deficit. It will also enable the Group to return significant proceeds to shareholders, with c.£5.0 billion expected to be returned via a special dividend, and to further de-risk the business by reducing indebtedness through a significant pension contribution of £2.5 billion.Dave Lewis, Chief Executive of Tesco, said: “Following inbound interest and a detailed strategic review of all options, we are announcing today the proposed sale of Tesco Thailand and Tesco Malaysia. Tesco’s Asian operations have been an important part of the Group for many years and constitute an exceptionally high-quality business, with market leading positions in two key markets of Thailand and Malaysia.

This sale releases material value and allows us to further simplify and focus the business, as well as to return significant value to shareholders.
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In December 2006 it raised its stake to 90% in a £180 million deal. March 9, 2020 . The Board believes the Disposal will realise a significantly higher value than could be generated from Tesco’s continued ownership and investment. US Markets Tesco To Sell Asia Business For $10.6 Bln; Plans To Declare Special Dividend . node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}} Exxon to suspend company match to employee retirement plans in Oct -sources (RTTNews) - Tesco Plc (TSCO.L, TSCDY.PK) said Monday that it agreed to sell its businesses in Thailand and Malaysia to CP Group entities for an enterprise value of $10.6 billion or 8.2 billion pounds on a cash and debt free basis. The retailer also plans to return about 5.0 billion pounds to shareholders through a special dividend with associated share consolidation.The company also said that the disposal will further simplify the company, enabling a focus on driving cash generation and returns to shareholders from retail businesses in the UK and Ireland and in Central Europe.Completion of the Disposal, which comprised of Tesco's entire shareholding in Tesco Stores (Thailand) Limited, Tesco Stores (Malaysia) Sdn Bhd, is expected during the second half of 2020.
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