MALAYSIA: Tesco close to finalising supermarket buyout
The UK's largest supermarket group, Tesco, is close to finalising a major bid for a retail chain in Malaysia, spearheading an aggressive drive which would make Tesco a strong presence in Asia. The move is in line with a policy of expansion which found a store opening in Taiwan in December, plans for seven to be built in South Korea, and twenty-four stores in Thailand. Rumours are circulating that Tesco is considering a buyout of Australia's Woolworth's. An announcement is expected which will confirm the acquisition of either Tops, Malaysia's 40-unit strong supermarket business, or Parkson, which operates 30 stores.David Reid, Tesco's deputy chairman, will stress the importance of the Asian market to the company when the interim results are announced on 19 September.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- Trump seen as negative for global food trade
- Analysis: B&G Foods balancing growth and decline
- 2017: three major drivers of M&A strategy
- Nestle mum on Mead Johnson takeover talk
- Weetabix takeover talk gathers pace
- Unilever rebrands I Can't Believe It's Not Butter
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs