Tesco has bought 128 stores

To strengthen its market presence in Central Europe, TESCO, the giant British retailer has bought 128 stores in the Czech Republic.

 
Tesco said it had purchased  the Czech stores Zabka and Koruna from Penta Investments. The transaction involves 81 Zabka's stores and 47 Koruna stores which will be convert in Tesco Express. Zabka stores will be operated as a franchise.

 
The transaction would amount to £ 34 million that is 39 million. Tesco, which is present in the Czech Republic for 15 years operates 151 stores, 18 gas stations and 6 shopping centers in the country.

 
Source: Bloomberg, Financial Times, Wall Street Journal