TESCO Plc agreed to sell its Asian businesses to Thai billionaire Dhanin Chearavanont for more than $10 billion, clinching a record deal in Thailand even as the coronavirus outbreak damps enthusiasm for mergers and acquisitions worldwide.
Britain’s largest supermarket chain said it plans a 5 billion-pound ($6.6 billion) special dividend after the sale of the assets to Chearavanont’s Charoen Pokphand Group. The U.K. grocer is gaining a cash infusion as it focuses on its home market, where it’s cutting thousands of jobs.
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