Blog: Tesco looks east - even as Carrefour opportunity slips by
Dean Best | 13 September 2010
As I outlined in my last blog, the sale of Carrefour's stores in Malaysia, Thailand and Singapore has been attracting much interest - not least from UK retail giant Tesco.
Sir Terry Leahy told the FT last month that Tesco could be interested in the stores up for sale but, alas, reports out of Asia late on Friday (10 September) suggested the UK firm had been cut from Carrefour's shortlist of bidders.
The Wall Street Journal said the remaining bidders including Carrefour's French peer Casino and Thai retailers Central Group and Big C - in which Casino owns a part stake.
Still, Tesco seems to have plenty of irons in the fire in Asia. The Daily Telegraph reported today that the company is could open a chain of franchise c-stores overseas after a trial in South Korea.
With Philip Clarke, head of Tesco's international business, set to take the role of CEO, expect more overseas moves from the UK's largest grocer.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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