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CP All completes supercentre business sale

CP All Plc at the end of last month completed the disposal of its overseas supercentre business, the company informed the Stock Exchange of Thailand on Monday.



 

 The disposal involved its stakes in Yangtze Supermarket Investment Co Ltd and Shanghai Lotus Supermarket Chain Store Co Ltd. As a result of the disposal, both companies are no longer subsidiaries of CP All.

 Both companies operated mainly in China.



CP All on Monday saw its share price climb 22 per cent to Bt9.40 at the close, its steepest gain since the stock debuted in October 2003. The shares soared 33 per cent on their first day of trading on Oct 14, 2004.

Following the transaction, CP All, the operator of 7-Eleven convenience stores, no longer need to book losses from Shanghai Lotus Supermarket.

 


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