Tesco agrees €1.7bn sale of Czech, Slovak units

Tesco has agreed to sell its Czech and Slovak businesses to Dutch retailer Ahold Delhaize for an enterprise value of €1.7 billion, as it sharpens its focus on its UK and Irish operations. The deal covers stores, offices and distribution centers, and is subject to regulatory approval, with completion expected in the second half of 2027. Tesco expects net cash proceeds of about €1.2 billion before tax and transaction costs and plans to return most of the money to shareholders through an additional share buyback. Ahold Delhaize said the acquisition will expand its Central and Southeastern European footprint and give it more than 360 Tesco-operated stores, over 100 franchise stores and more than 14,000 employees across the two markets.