TCC 'plans $10-billion loan' to fund bid for Tesco in Thailand, Malaysia.

By The Nation

 

 

Corporate giant TCC Group plans to fund its bid for Tesco with a $10-billion two-year loan, Bloomberg reported.

 

If TCC Group wins the bid and the loan is drawn, it would be among the largest corporate financing transactions on record for Thailand. It would compare with a $6-billion bridge loan that backed Charoen Pokphand Group’s $6.6-billion acquisition of discount retailer Siam Makro Pcl in 2013.

 

Business tycoon Charoen Sirivadhanabhakdi’s TCC Group is involved in developing hotels, shopping malls and office buildings.

 

TCC was among companies that were earlier short-listed for the potential acquisition of Tesco’s operations in Thailand and Malaysia that could fetch more than $7 billion.

 

Central Group and CP All Pcl, the other two conglomerates in Thailand, have also reportedly put forward bids.

 

A spokesperson in the investor relations department at Berli Jucker Pcl, the retail arm of the TCC Group, has not responded yet to queries.

 

Source: https://www.nationthailand.com/news/30383232

 

-- © Copyright The Nation Thailand 2020-03-03

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My local  Tesco have got  <deleted>  all in stock at the  moment, almost  look s like they are emptying the place out pre  sale,  no Flora, no Tesco own cereal with fruit, no Vixol and a  lot of chocolate is  now absent also. Guess Ill have to mix another cocktail style now

59 minutes ago, webfact said:

Corporate giant TCC Group

are they, by any chance,  part owned by Chinese corporations....  (CEO  Khun Charoen born to an overseas Chinese family from the Tenghai district in Shantau)

Out of 3 awful choices & their conflicts of interest, TCC buying Tesco is the worst IMO. Tesco's main competitor is Big C, run by TCC.

Monopolies in Thailand are infamous for price-gouging.

Edited March 3, 20206 yr by khunken

Is that the beer Chang family?

7 hours ago, Chazar said:

My local  Tesco have got  <deleted>  all in stock at the  moment, almost  look s like they are emptying the place out pre  sale,  no Flora, no Tesco own cereal with fruit, no Vixol and a  lot of chocolate is  now absent also. Guess Ill have to mix another cocktail style now

My local Tesco has been all but demolished. Only the floor and some uprights remaining.  Not sure what is going to be built.

7 hours ago, Chazar said:

My local  Tesco have got  <deleted>  all in stock at the  moment, almost  look s like they are emptying the place out pre  sale,  no Flora, no Tesco own cereal with fruit, no Vixol and a  lot of chocolate is  now absent also. Guess Ill have to mix another cocktail style now

Yea...I'm noticing the same thing in the Lotus stores I visit in my part of metro Bangkok.   It's pretty obvious they are not fully replenishing some items at all and/or replenishing to lower stock levels.  And I'm seeing a fair amount of the stalls/booths within Lotus stores which small SMEs rent are vacant now....where before the stalls/booths always had occupants.   All of this is lowering foot traffic (sales) within the Lotus stores I visit.

 

Yeap...you can tell Tesco Lotus is packing their bags in preparation of selling their Thailand stores causing reduced foot traffic and this in turn is also causing some small SMEs to find other stall/booth rental locations.