Goldman Sachs is working for Tesco, the UK supermarket chain, on its first Japanese acquisition, boosting the bank's business in the country just five months after it invested $1.27bn (€1.09bn) in Sumitomo Mitsui Financial Group.

Tesco is set to buy C Two-Network in a deal valuing the Japanese food retailer at £139m (€197m). It is the first time Goldman has given mergers and acquisition advice to Tesco. Greenhill, the investment banking boutique with offices in the US, the UK and Germany, frequently advises Tesco on UK deals, and last year worked on the retailer's bid for rival T&S Stores.