The purchase, which has to be approved by anti-monopoly regulators covers 301 stores, distribution centers and its Polish headquarters.
Tesco in Central Europe wants to concentrate on Czechia, Slovakia and Hungary, said Tesco CEO Dave Lewis, where the company has a stronger position on the market and good growth prospects.
According to Tesco the total value of assets covered by the transaction is worth 181 million GBP with the net value expected to bring in 165 million GBP. The Salling Group A/S, which serves 11 million customers a week in Denmark, Germany and Poland, will buy all 301 Tesco stores.
Another 22 Tesco stores have already been sold in a separate transaction with another buyer, bringing the company 200 million GBP net. Tesco will continue to seek buyers for the remaining 19 stores not covered by the latest deal.