Thai Oil Company Joins Tesco Asia Bidding

PTT is reportedly joining two Thai tycoons in the first-round bid to buy Tesco Asia.

January 13, 2020

BANGKOK—Last week, NACS Daily reported on the bid to buy Tesco Asia. At the time, two big Thai tycoons were vying for the 2,074 stores in Thailand and Malaysia, and reports said the deal could reach as much as $7 billion.

Now, Thai oil company PTT is reportedly joining the mix and make a first-round bid via the company’s retail department, which owns Café Amazon, reports Inside Retail Asia. In the past week, Reuters announced that the price has increased from $7 billion to nearly $9 billion. If it goes through, it would be the second-largest acquisition by a Thai company.

To see PTT, Central Group and Tesco Lotus in person, NACS invites you to attend the Convenience Summit Asia in Bangkok, Thailand, on March 3-5, 2020.

Held in the epicenter of retail disruption and innovation, NACS Convenience Summit Asia immerses you in the digital transformation of Bangkok’s retail market. For three exhilarating days feast your senses on the latest trends in Bangkok’s popular food and beverage scene. See how local convenience brands use omnichannel retailing, store design, technology and more to outpace the growth of traditional retailers by registering today.