Thursday, August 13, 2020

CP Group seeks permission to merge with retailer Tesco Lotus

Jul 14. 2020
Facebook Twitter

By THE NATION

Charoen Pokphand Group (CP), Thailand’s largest agribusiness conglomerate, last week filed a document with the Trade Competition Commission seeking permission to merge its retail business with Ek-Chai Distribution System Co Ltd, the operator of Tesco Lotus, the commission’s chairman Sakon Varunyuwatana said.

This move follows CP Group’s recent takeover of the British retailer Tesco’s business in Thailand and Malaysia.

However, Sakon said the commission has yet to consider the application as the documentation is incomplete. He said CP Group has been asked for additional documents, including records on related business structures and market shares. Once all the documentation is filed, the commission will take 90 days to make a decision.

When considering the merger, the commission will check to see if it can be damaging for the economy or affect consumers.

CP Group also needs to submit its merger plan, shareholding structure, as well as documents on market share, sales and market analysis before and after the merger.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo