6 December 2006 — Kuala Lumpur (MAL): Tesco is to acquire Makro’s Malaysian cash and carry business.
In a statement, Tesco said: "This strategic move will help the company to strengthen its business in Malaysia and move close to becoming market leader".
Tesco also said that the transaction involves eight sites in ‘prime locations’ that will nearly double the retailers sales space in the country.
SHV Holdings, the Dutch owner of Makro, announced its plans to sell Makro Cash & Carry in August but gave no reason for the sale.
Financial terms of the transaction have not been disclosed.