Tesco completes £8bn sale of Malaysia and Thailand businesses : CityAM

Tesco has completed the £8bn sale of its Thailand and Malaysia businesses and is gearing up to pay a £5bn special dividend to shareholders.

The supermarket announced this morning that the division’s have been acquired by C.P. Retail Development Company, which is backed by Charoen Pokphand Group, CP All Public Company and Charoen Pokphand Foods. 

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Tesco will make a £2.5bn contribution to its pension scheme, and will pay the special dividend on 26 February, subject to the result of a general meeting on 11 February.

It said extra information on the special dividend and share consolidation, and notice of a general meeting, will be sent to shareholders around 25 January. 

Last week Tesco chief executive Ken Murphy said: “This sale allows us to focus on our businesses across Europe and to continue delivering for…