Home / Knowledge / News / Apparel/Garments / Tesco signs deal with Japan's largest retail group Aeon
Tesco signs deal with Japan's largest retail group Aeon
19
Jun '12
In line with its previous announcement, Tesco has entered into an agreement with Aeon, Japan’s largest retail group.

Tesco will exit Japan in a two stage process.  In the first phase Tesco will sell 50% of its shares in Tesco Japan to Aeon for a nominal sum.  This will result in the formation of a joint venture with Aeon.  As part of this, Tesco will invest a further c.£40 million as a joint venture partner to finance further restructuring, after which Tesco will have no further financial exposure to the Japanese business or its operations.

Philip Clarke, Chief Executive Officer of Tesco Plc, said: "I thank our colleagues in Japan, who have done an excellent job for the business – in particular over recent months.  We are very pleased to announce this deal with Aeon, and are confident that this will deliver the best outcome for our staff, for our customers in Japan and for our shareholders."

Completion of this transaction is subject to usual regulatory approval.

Tesco

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search