Thai tycoons-led CP Group, Central said to vie for Tesco’s $7b Asia business

Groceries in a shopping cart move through a food aisle at the Tesco Basildon Pitsea Extra supermarket, operated by Tesco Plc, in Basildon, U.K., on Tuesday, Dec. 1, 2015. Many European food retailers are coming to terms with persistently low inflation as well as consumers who remain frugal yet purchase food more frequently. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

The Thailand and Malaysian operations of Britain’s largest supermarket chain Tesco Plc. are on the shopping lists of Thai tycoons.

Thai billionaire Dhanin Chearavanont’s Charoen Pokphand Group and Central Group, controlled by Chirathivat family, are among companies that are weighing bids for the Southeast Asian business that could fetch more than $7 billion, according to people with knowledge of the matter.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter