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Aeon Interested In Buying Tesco’s Malaysia Unit
  • Aeon is interested in buying the Malaysian operations of TESCO PLC, valued at about £900 million (RM5.3 billion). Japan’s largest retailer has been venturing into South-East Asia where purchasing power is rising in fast-growing economies.
  • Buying Tesco’s operations will make Aeon Malaysia’s biggest hypermarkets group. The Japanese retailer has 28 hypermarkets in the country and plans to open 100 more stores in various formats by 2020.
  • Tesco has not expressed any intention to sell its Malaysian business and has declined to comment.

Significance: Aeon is keen on Tesco but further details have to wait until Aeon has secured South Korea and Dunnhumby. The sale of South Korean unit will buy Tesco some time, so further action is delayed until March 2016.

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