Tesco has entered the Chinese market in a joint venture,as predicted in The Grocer (March 6, p16)
The 50:50 agreement is between Tesco and Ting Hsin, for its subsidiary Hymall stores. Tesco will acquire 50% of the equity for Hymall for £140m cash, valuing the business at £280m. Hymall runs 25 hypermarkets and plans to open 10 more.
The 50:50 agreement is between Tesco and Ting Hsin, for its subsidiary Hymall stores. Tesco will acquire 50% of the equity for Hymall for £140m cash, valuing the business at £280m. Hymall runs 25 hypermarkets and plans to open 10 more.
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