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