CHESHUNT (dpa-AFX) - Tesco Plc (TSCO.L, TSCDY.PK) confirmed Wednesday that all conditions have been satisfied for the sale of its businesses in Thailand and Malaysia. The disposal is expected to complete on or around 18 December.
As previously indicated, Tesco plans to return 5 billion pounds of the net proceeds to shareholders through a special dividend, together with a share consolidation. It will also make a significant pension contribution of 2.5 billion pounds to the Tesco PLC Pension Scheme shortly following completion.
The special dividend is expected to be paid on or around 26 February 2021.
Tesco said in March that it agreed to sell its businesses in Thailand and Malaysia to CP Group entities for an enterprise value of $10.6 billion or 8.2 billion pounds on a cash and debt free basis.
Copyright RTT News/dpa-AFX
© 2020 AFX News
