Tesco to acquire Hymall stake

UK-based retailer Tesco agreed to purchase a 50% share in Hymall Commercial Retail Group for US$259 million as part of its strategy to enter the mainland retail market. Hymall is a subsidiary of Taiwan-based Ting Hsin International Group. Hymall operates 25 hypermarkets in 10 mainland cities under the Legou brand name. It plans to open 10 more locations in the next year.