Tesco has struck a sale-and-leaseback property deal worth GBP514m (US$819.2m), the UK's largest retailer said today (5 October).

The company said the agreement - which involves 15 Tesco stores and two distribution centres - will be structured as a 50:50 joint venture with an unnamed UK pension fund.

Shares in Tesco were down 0.6% at 387.5p at 15:23 BST this afternoon.

The company is publishing its interim results tomorrow in London.