Thailand's CP Group gets antitrust nod for $11b Tesco assets buy, with conditions

A Tesco store sign is displayed. Photo: Simone Hutsch/unsplash

Charoen Pokphand Group won the Thai antitrust agency’s approval for its $10.6 billion acquisition of British retailer Tesco Plc’s local retail business with some conditions.

Billionaire Dhanin Chearavanont’s CP Group is barred from other modern-retailing mergers for three years, excluding e-commerce, Thailand’s Office of Trade Competition Commission said Friday, while clearing the deal announced almost eight months ago.

Bring stories like this into your inbox every day.

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