Japan’s Aeon interested in buying Tesco’s Malaysia unit, say sources

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(Source: Retail in Asia | July 9, 2015 )

Japan’s Aeon Co Ltd is interested in buying the Malaysian operations of Britain’s Tesco PLC, valued at about GBP900 million (USD1.4 billion), people familiar with the matter told Reuters.

Japan’s largest retailer has been venturing into Southeast Asia where purchasing power is rising in fast-growing economies. In contrast, growth has been hampered at home by deflation, sluggish consumer spending and a shrinking population.

It bought the Malaysian arm of French retailer Carrefour SA in 2012 for EUR250 million (USD275 million) and last year expanded e-money services in Thailand.