Tesco divests in thailand malaysia

Tesco, a British multinational grocery and general merchandise retailer, has indeed divested its operations in Thailand and Malaysia.

In 2018, Tesco announced that it would be selling its operations in Thailand to Charoen Pokphand Group (CP Group), a Thai conglomerate, for approximately £8.6 billion (around $11.2 billion USD). The deal was completed in August 2019, and Tesco's Thai business, which operated under the Tesco Lotus brand, was transferred to CP Group.

In Malaysia, Tesco had operated a chain of hypermarkets under the Tesco Malaysia brand. In 2020, Tesco announced that it would be selling its Malaysian business to EMERGE Equity Partners, a private equity firm, for approximately £8 million (around $10.4 million USD). The deal was completed in October 2020, and Tesco's Malaysian operations were transferred to EMERGE Equity Partners.

The divestments were part of Tesco's efforts to focus on its core UK business and to reduce its international footprint. The company had been struggling to make a profit in its Asian operations, and the divestments were seen as a way to simplify its business and improve its financial performance.

It's worth noting that Tesco still operates in several other countries, including the UK, Ireland, Hungary, Poland, and the Czech Republic, among others.