Dow Jones reports that Tesco has signed a deal for a joint venture that will develop three major shopping malls in China, each of which will feature a Tesco hypermarket. According to the story, this is part of a broader China strategy that has Tesco opening 18 hypermarkets there between February 2009 and February 2010.
The story says that “50% of joint venture will be owned by syndicate of leading Asian investors including HSBC Nan Fung China Real Estate Fund, Singapore's Metro Holdings Ltd and Hong Kong's Nan Fung Group.”
The story says that “50% of joint venture will be owned by syndicate of leading Asian investors including HSBC Nan Fung China Real Estate Fund, Singapore's Metro Holdings Ltd and Hong Kong's Nan Fung Group.”
- KC's View:
