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Tesco to sell Czech, Slovak businesses to Ahold Delhaize in $1.9 billion deal

By Reuters News

Oct 30 (Reuters) - Tesco, Britain's largest supermarket chain TSCO.L, said on Friday it will sell its businesses in the Czech Republic and Slovakia to Dutch retailer Ahold Delhaize for an enterprise value of €1.7 billion ($1.90 billion).

The deal includes all stores and offices in the Czech Republic and Slovakia, and distribution centres in Kralupy, Presov and Beckov, the company said.

Tesco expects net cash proceeds of €1.2 billion before tax and other transaction costs, and plans to return the majority of that to shareholders through an incremental share buyback following the deal's completion.


($1 = 0.8957 euros)

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