Tesco has exited several markets around the world over the past decade, including the US. (AFP pic)LONDON: Britain's biggest retailer Tesco said Friday that it was exiting its food retail operations in the Czech Republic and Slovakia after 30 years to focus on its core UK and Irish markets.
The supermarket giant hopes to complete a sale to Dutch food retailer Ahold Delhaize for €1.7 billion (US$1.9 billion) in the second half of next year, subject to regulatory approvals, Tesco said in a statement.
"I want to thank every colleague in the Czech Republic and Slovakia for the contribution they have made to Tesco over many years," chief executive Ken Murphy said in a statement.
"For Tesco, the transaction will further simplify the Group, increasing our focus on our core UK and Irish businesses... while enabling a further return of capital to shareholders," he said.
