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Korean Air wins Thailand's approval for Asiana acquisition

Korean Air wins Thailand’s approval for Asiana acquisition
Photo by: Korean Air/Facebook
Tuesday, June 1, 2021 8:44 AM UTC
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Korean Air, the biggest airline in South Korea, revealed on Monday, May 31, that it has earned another approval from two more countries over its acquisition of Asiana Airlines, a smaller local carrier. This means that it is getting closer to full take over of its former rival.
Approvals needed for the acquisition deal to go ahead
Yonhap News Agency reported that Korean Air did not only receive approval from Thailand’s watchdog but also from the Philippines. The two countries are the latest to greenlight the acquisition of Asiana Air, following Turkey that issued its approval in February. ....

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Thailand's watchdog completes review of Korean Air-Asiana merger | News

Korean Air has cleared another milestone in its planned acquisition of compatriot Asiana Airlines, most recently with Thailand’s competition watchdog. ....

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Tesco's Asia deal paves way for 5 billion pound shareholder windfall

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LONDON (Reuters) - Shareholders in Tesco can look forward to a 5 billion pound ($6.7 billion) windfall in the new year after the group said it would complete a $10.6 billion sale of its Asian businesses to Thailand’s CP Group next week.
Tesco agreed to sell its businesses in Thailand and Malaysia to Dhanin Chearavanont’s CP Group in March.
Britain’s biggest retailer said that CP Group, which runs its 12,000 7-Eleven convenience stores through CP All and about 80 cash-and-carry stores under Siam Makro, was satisfied with the approval notice from Thailand’s Office of Trade Competition Commission.
This, plus approval from the Ministry of Domestic Trade and Consumer Affairs in Malaysia on Nov. 10, means there are no further conditions outstanding and the disposal is expected to complete on or around Dec. 18. ....

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UPDATE 2-Tesco's Asia deal paves way for 5 bln pound shareholder windfall

Deal set to complete on Dec. 18
5 bln stg to be returned via special dividend
Pension fund to get 2.5 bln stg injection
Tesco shares up 1.3% (Adds detail, analyst comment, updates shares)
LONDON, Dec 9 (Reuters) - Shareholders in Tesco can look forward to a 5 billion pound ($6.7 billion) windfall in the new year after the group said it would complete a $10.6 billion sale of its Asian businesses to Thailand’s CP Group next week.
Tesco agreed to sell its businesses in Thailand and Malaysia to Dhanin Chearavanont’s CP Group in March.
Britain’s biggest retailer said that CP Group, which runs its 12,000 7-Eleven convenience stores through CP All and about 80 cash-and-carry stores under Siam Makro, was satisfied with the approval notice from Thailand’s Office of Trade Competition Commission. ....

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