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12 Mar 2021 | 13:08

Tesco gets regulatory approval for sale of Polish business

(Sharecast News) - Tesco has received approval from the Polish Competition Authoritiy for the sale of its business there. The company announced in June 2020 that it had agreed to sell its Polish business for around £181m to Danish retailer Salling Group. The deal includes the sale of 301 stores together with the associated distribution centres and head office.

Chief executive officer Ken Murphy said on Friday: "I would like to thank all our colleagues in Poland for their hard work and dedication to our customers over 25 years. As part of a combined business with Salling Group, our stores and colleagues will be well set up for continued success, with opportunities for further growth in Poland.

"The sale of Tesco Polska allows us to focus on growing our businesses in the UK, Republic of Ireland, Czech Republic, Hungary and Slovakia."

The sale is expected to complete before the end of March.
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