Tesco continues international retreat with sale of Polish business
Supermarket giant Tesco has agreed in principle the sale of its 300-plus strong Polish business and associated distribution centres and head office.
The grocer announced it had reached an agreement with Danish retail giant Salling Group for the sale of all 301 Tesco stores and associated infrastructure in Poland for £181m this morning.
Over the past 18 months Tesco has been looking to exit Poland, having sold or agreed to sell a further 22 stores for net proceeds of approximately £200m and is looking to sell a further 19 stores currently not trading.
Outgoing Tesco chief executive Dave Lewis said the sale was result of continued market challenges in Poland, and would allow the grocer to focus on its businesses in the Czech Republic, Hungary and Slovakia.
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