Deals
TCC Group to Fund Bid For Tesco Assets With $10 Billion Loan
- Tesco’s assets in the region could fetch more than $7 billion
- TCC was earlier short-listed along with CP Group, Central
A moto-courrier enters a Tesco-Lotus supermarket in Bangkok.
Photographer: Mladen Antonov/AFP via Getty Images
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Tycoon Charoen Sirivadhanabhakdi’s TCC Group will fund its bid for Tesco Plc’s Asian business with a $10 billion two-year loan, according to sources familiar with the matter.
If TCC Group wins the bid and the loan is drawn, it would be among the largest corporate financings on record for Thailand. It would compare with a $6 billion bridge loan that backed Charoen Pokphand Group’s $6.6 billion acquisition of discount retailer Siam Makro Pcl in 2013.