Tesco sells Polish supermarket business

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Tesco has agreed to sell its operations in Poland as it continues to reduce its international operations.

The British supermarket giant sells its Polish business of 301 stores to the Danish retail group Salling Group for £ 181m.

He said the sale would allow him to focus on his central European markets, the Czech Republic, Hungary and Slovakia, where he has a larger market share.

The company has also withdrawn from Thailand and Malaysia so far this year as it limits its global ambitions.

“We have seen significant progress in our activities in Central Europe, but we continue to see market challenges in Poland,” said Dave Lewis, CEO of Tesco.

“Today’s announcement allows us to focus in the region on our activities in the Czech Republic, Hungary and Slovakia, where we have stronger market positions. ”

The company said it had also “made good progress” in selling its remaining Polish assets outside of the Salling deal. He said he has raised £ 200 million in the past 18 months by selling or agreeing to sell 22 stores.

In March, Tesco sold its operations in Thailand and Malaysia for $ 10.6 billion (£ 8 billion).

The supermarket chain had 2,000 stores in the two countries, under the Tesco Lotus brand, and sold them to the Thai conglomerate CP Group.

This sale generated enough dividends for the shareholders.

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