Thai Tycoon Gets Antitrust Nod for $11 Billion Tesco Assets Buy
- Agency bars CP Group from acquiring retail assets for 3 years
- CP Group will take 2,000 stores in Thailand, Malaysia in deal
Photographer: Mladen Antonov/AFP/Getty Images
This article is for subscribers only.
Charoen Pokphand Group won the Thai antitrust agency’s approval for its $10.6 billion acquisition of British retailer Tesco Plc’s local retail business with some conditions.
Billionaire Dhanin Chearavanont’s CP Group is barred from other modern-retailing mergers for three years, excluding e-commerce, Thailand’s Office of Trade Competition Commission said Friday, while clearing the deal announced almost eight months ago.