Tesco completes sale of businesses in Asia

RNS Number : 1461J

Tesco PLC

18 December 2020

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

 18 December 2020

Tesco PLC

TESCO COMPLETES SALE OF BUSINESSES IN THAILAND AND MALAYSIA

Following the announcement on 9 December 2020, Tesco is pleased to announce that it has completed the sale of its businesses in Thailand and Malaysia to C.P. Retail Development Company Limited (CPRD), the acquiring entity in which Charoen Pokphand Group, CP All Public Company Limited and Charoen Pokphand Foods Public Limited are invested.

As previously announced, a circular containing further details of the c.£5 billion special dividend and share consolidation, as well as a notice convening a general meeting of shareholders (the "General Meeting") and further details about the resolutions to be considered at the General Meeting, will be sent to shareholders on or around 25 January 2021.

The Company will shortly make a significant pension contribution of £2.5 billion to the Tesco PLC Pension Scheme. The special dividend is expected to be paid on or around 26 February 2021, conditional on obtaining shareholder approval at the general meeting which is expected to be held on or around 11 February 2021.

Enquiries:

Tesco
Investor relations	Chris Griffith	[phone]
Media	Christine Heffernan	[phone]
	Philip Gawith (Teneo)	+ 44 (0) 207 420 3143

Forward looking statements

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Such forward ‐ looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors may cause actual results, performance or achievements of Tesco to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Important factors that could cause actual results, performance or achievements of Tesco to differ materially from the expectations of Tesco, include, among other things, general business and economic conditions globally, industry trends, competition, changes in government and other regulation and policy, including in relation to the environment, health and safety and taxation, labour relations and work stoppages, interest rates and currency fluctuations, changes in its business strategy, political and economic uncertainty, including as a result of global pandemics and other factors. Such forward ‐ looking statements should therefore be construed in light of such factors. Neither Tesco nor any of its directors, officers or advisers provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward ‐ looking statements in this document will actually occur. You are cautioned not to place undue reliance on these forward ‐ looking statements, which speak only as of the date hereof. Other than in accordance with its legal or regulatory obligations, Tesco is not under any obligation and Tesco expressly disclaims any intention or obligation to update or revise any forward ‐ looking statements, whether as a result of new information, future events or otherwise.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. The information disclosed in this announcement may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with laws and regulations of any jurisdiction outside of England.

Tesco PLC's LEI number is: 2138002P5RNKC5W2JZ46

 

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