CP Group, a Thai conglomerate based in Bangkok, completed the acquisition of the Thailand and Malaysia units of Tesco, a British multinational groceries and general merchandise retailer, for $10.6bn. "Following inbound interest and a detailed strategic review of all options, we are announcing today the proposed sale of Tesco Thailand and Tesco Malaysia. This sale releases material value and allows us to further simplify and focus the business, as well as to return significant value to shareholders," Dave Lewis, Tesco Chief Executive.