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UK's Tesco to take over Makro Cash and Carry stores in Malaysia - report.

Europe Intelligence Wire

| December 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. 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

(From AFX Europe (Focus))

KUALA LUMPUR (XFN-ASIA) - Tesco PLC of the UK is set to take over Makro Cash and Carry stores in Malaysia after successfully outbidding others for the retail chain, the New Straits Times newspaper reported.

The newspaper quoted unidentified sources as saying the eight stores belonging to Makro Cash and Carry Distribution (M) Sdn Bhd (Makro Malaysia) were put up for sale in September after Dutch firm SHV Holdings NV, which owns its 65 pct of Makro Malaysia, decided to call it a day here.

One source was quoted as saying: "An announcement will be made next week."

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