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Tesco completes £8bn Malaysia and Thailand business sale prompting £5bn shareholder windfall
Tesco sales jumped over the Christmas period, helped by a surge in online shopping (Getty Images)
Tesco has completed the £8bn sale of its Thailand and Malaysia businesses and is gearing up to pay a £5bn special dividend to shareholders.
The supermarket announced this morning that the division’s have been acquired by C.P. Retail Development Company, which is backed by Charoen Pokphand Group, CP All Public Company and Charoen Pokphand Foods.
Tesco will make a £2.5bn contribution to its pension scheme, and will pay the special dividend on 26 February, subject to the result of a general meeting on 11 February.