CHESHUNT, U.K. — Tesco here said Monday it has reached an agreement to exit Japan by transferring its interests there to Aeon, Japan’s largest retailer. Tesco plans first to sell 50% of its shares in Tesco Japan to Aeon for a “nominal sum,” resulting in the formation of a joint venture with Aeon. In addition, Tesco will invest a further $62 million as a joint venture partner “to finance further restructuring,” after which Tesco expects that Aeon will ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.