AEON will withdraw from its supermarket business in Thailand and sell all shares in its local subsidiary to Central Food Retail, part of Central Group. The sale will take effect on 30 September, and the agreement was signed on the 7th.
AEON announced that it will sell its retail business in Thailand, including Siam Jusco, to Central Food Retail, part of Central Group. The sale price was not disclosed, and AEON will withdraw from supermarket operations in Thailand.
The sale covers all shares in AEON Thailand, the subsidiary operating supermarkets in Thailand, with the transfer scheduled for completion on 30 September. The operating policy after the sale has not been determined, but the employment and working conditions of approximately 1,300 local employees are expected to be maintained.
Going forward, AEON plans to redirect resources to growth areas centered on Vietnam and concentrate management resources in Malaysia, Cambodia and Indonesia. The 30 MaxValu and other stores in Thailand are expected to remain unchanged for now.