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Thai Supermarket Group to Shift Retail Drive to China.

Bangkok Post (Bangkok, Thailand)

| November 06, 2002 | COPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Sukanya Jitpleecheep

Nov. 6--Upset by local media criticism of the Charoen Pokphand Group's involvement in the hypermarket businesses in Thailand, CP Group chairman Dhanin Chearavanont has resolved to drop all of the group's interests in the segment and will now look to expand the conglomerate's businesses in China instead.

CP has decided to sell all of its remaining interest in the Tesco Lotus chain in Thailand to British retailer Tesco Plc. As well, it plans to sell its stake in Siam Makro, the operator of Makro cash-and-carry stores.

The CP Group's remaining stake in Ek-Chai Distribution, the joint venture that runs Tesco Lotus, is ...

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Source: HighBeam Research, Thai Supermarket Group to Shift Retail Drive to China.