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Tesco To Sell Czech Republic & Slovakia Businesses For Enterprise Value €1.70 Billion

By Reuters News

Oct 30 (Reuters) - Tesco PLC TSCO.L:

  • TESCO PLC - TESCO TO SELL CZECH REPUBLIC & SLOVAKIA BUSINESSES

  • TESCO PLC - TESCO TO SELL CZECH REPUBLIC & SLOVAKIA BUSINESSES

  • TESCO - DEAL ENTERPRISE VALUE €1.70 BILLION (£1.50 BILLION) ON CASH AND DEBT FREE BASIS

  • TESCO - EXPECTED NET CASH PROCEEDS OF €1.20 BILLION (£1 BILLION) BEFORE TAX AND COSTS

  • TESCO - DEAL EXPECTED TO BE BROADLY NEUTRAL TO EPS AND NET DEBT/EBITDA RATIO

  • TESCO - MAJORITY OF NET CASH PROCEEDS TO BE RETURNED VIA INCREMENTAL SHARE BUYBACK

  • TESCO - DEAL INCLUDES ALL STORES, OFFICES, AND DISTRIBUTION CENTRES IN CZECH REPUBLIC AND SLOVAKIA

  • TESCO: FOLLOWING COMPLETION, WE EXPECT TO RETURN MAJORITY OF NET CASH PROCEEDS TO SHAREHOLDERS IN FORM OF AN INCREMENTAL SHARE BUYBACK

  • TESCO - HUNGARY NOT INCLUDED IN AGREEMENT AND REMAINS OWNED AND OPERATED BY TESCO

  • TESCO - TO SELL CZECH REPUBLIC AND SLOVAKIA BUSINESSES TO AHOLD DELHAIZE

  • TESCO: WILL CONTINUE TO REVIEW ALL OPTIONS FOR FUTURE OF OUR BUSINESS IN HUNGARY

Further company coverage: TSCO.L

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