UK retail giant Tesco has announced that it has made an offer to acquire the entire issued share capital of Adminstore, which owns 45 convenience stores trading mainly as Europa, Harts and Cullens.
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The offer, which is worth £53.7m (US$98.9m), is conditional upon receiving shareholder acceptance and regulatory clearance.
Tesco said the Adminstore shops, which are situated in London, will be operated under the Tesco Express format.
