Allen & Overy acts as co-counsel to Tesco plc on its proposed disposal of its business in Thailand
18 March 2020
Allen & Overy has acted as co-counsel to Tesco Plc (Tesco) on the proposed sale of Tesco’s entire interest in its business in Thailand to the CP Group entities, namely C.P. Retail Development Company Limited, Charoen Pokphand Holding Co. Ltd., CP All Public Company Limited and C.P. Merchandising Co. Ltd. (CP Group), which includes a portfolio of nearly 2,000 stores nationwide in Thailand.
Completion is expected in the second half of 2020 and is subject to Tesco shareholder and regulatory approvals.
This is the biggest corporate acquisition in Thailand and the largest in Asia this year to-date.
Partner Suparerk Auychai commented: “We were delighted to be able to support Tesco on this landmark transaction. Our longstanding relationship with Tesco in Thailand meant we could apply our in-depth understanding of the business together with our market expertise to provide comprehensive advice on this transaction.”
The A&O team was led by partner Suparerk Auychai, counsel Chris Burkett and leading associate Nonnabhat Paiboon, with considerable support from associates including Nopparuj Sallakanonta (real estate), Chakrit Chomketkaew and Gerrit Kappelle. Senior Consultant Dumnern Subpaisarn, counsel Noparat Kaewsringarm and senior associate Arthit Hemara also provided specialist advice in relation to litigation and regulatory matters.