June 18, 2020 / 6:17 AM / 22 days ago

Tesco sells Polish business for $206 mln

LONDON, June 18 (Reuters) - British supermarket group Tesco said it was selling its Polish business for 819 million zlotys ($206.52 million), leaving it focused on the Czech Republic, Hungary and Slovakia in the central European region.

Tesco said in a statement on Thursday that it had stronger market positions and better growth prospects in the three other countries. The buyer of its 301 store Polish business is Salling Group A/S.

The UK’s biggest retailer sold its supermarket businesses in Thailand and Malaysia in March, and the offloading of the Polish unit is a further retreat from its once lofty global ambitions. ($1 = 3.9658 zlotys) (Reporting by Sarah Young; editing by Kate Holton)

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