CP All sells Makro stake

Thailand’s CP All plans to divest some of its 98 per cent stake in cash and carry chain Siam Makro.

The Charoen Pokphand Group-owned company believes the sale will help it reduce its gearing which rose when it acquired Siam Makro for $6.6 billion last year.

It is believed CP All will dilute its holding to not less than 51 per cent to retain its majority ownership.

CP All operates more than 7000 7-Eleven convenience outlets and plans to open around 600 new ones across Thailand this year.

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