Some of the world’s largest private equity groups are planning to make offers for Tesco’s £9 billion Asian business as the ailing supermarket group prepares to publish its delayed results next week.
Investment bankers have told The Times that they have signed non-disclosure agreements to provide advice to private equity firms and large institutions that want to team up with anchor partners, such as Asian retailers, and make opportunistic bids for key parts of Tesco’s Asian business.
Investors are poring over all the assets of the retailer, which on Thursday will publish interim results that were postponed after it admitted it had overstated profit forecasts by £250 million for the first six months of the year.
Dave Lewis, the new chief executive, is understood to