Tesco Lotus exits
Britain’s biggest retailer Tesco has completed its exit from China with the sale of a 20% stake in a joint venture to a unit of its state-run partner China Resources Holdings (CRH), raising 275 million pounds (1.1 billion baht). Having struggled to crack the Chinese market, Tesco established the Gain Land joint venture with CRH in 2014, combining its 131 …