CP Group’s Tesco Asia acquisition gets loan syndication bankers salivating

Falabella, shopping, LatAm
By Pan Yue
12 Mar 2020

Thai conglomerate Charoen Pokphand Group’s $10.6bn purchase of Tesco’s Asia business has been hailed as a “landmark” deal that will liven up the region’s loan market. Bankers are now openly debating how they can get in on a financing that will tap both international and domestic liquidity. Pan Yue reports.

Months of bidding for UK retail giant Tesco’s Thai and Malaysian business finally ended on Monday, when Tesco announced that CP Group had emerged victorious. CP Group is buying the assets at an enterprise value of $10.6bn, representing an EV to Ebitda multiple of 12.5 times, according to ...

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