BRITISH supermarket giant Tesco is reviewing its options concerning the future of its businesses in Malaysia and Thailand, Bloomberg reports, quoting people familiar with the plan.
In a statement yesterday, the chainstore confirmed receiving “inbound interest” in its operations in the two countries and that it was carrying out a strategic review.
“The evaluation of strategic options is at an early stage, no decisions concerning the future of Tesco Thailand or Malaysia have been taken,” the statement said.
It said a sale was not a certainty at this point, but Dow Jones had earlier reported that a deal could set the value of the businesses at about US$9 billion (RM37 billion). The report said the Tesco spokesman, Simon Rew declined to comment on the price.
The Thai operations of 1,967 stores and real estate could be worth nearly US$7 billion. Tesco own 74 stores in Malaysia.
According to the Dow Jones, in the first half of fiscal-year 2020, the retailer’s business in Asia produced £2.6 billion (RM14.1 billion) of revenue, accounting for about 8% of total sales.