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  5. Tesco agrees to sell its 20% share in Gain Land

Pin to quick picksTesco Regulatory News (TSCO)

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Share Price Information for Tesco (TSCO)

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Share Price: 310.00
Bid: 309.90
Ask: 310.10
Change: -2.00 (-0.64%)
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Open: 313.90
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Prev. Close: 312.00
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Tesco agrees to sell its 20% share in Gain Land

25 Feb 2020 07:00

RNS Number : 0215E
Tesco PLC
25 February 2020
 

25 February 2020

 

Tesco PLC

 

Tesco agrees to sell its 20% share in Gain Land to its JV partner China Resources Holdings

 

Tesco PLC ("Tesco") today announces the sale of its 20% share in Gain Land to a subsidiary of its joint venture partner, China Resources Holdings ("CRH"). Gain Land is the Chinese joint venture with CRH that was established in 2014. The disposal will result in net cash proceeds to Tesco of c.£275m which will be used for general corporate purposes.

 

The disposal allows Tesco to further simplify and focus the business on its core operations.

 

The transaction will complete on 28 February 2020. There are no conditions to closing or regulatory approvals required.

 

Enquiries:

 

Investors: Chris Griffith +44 (0) 1707 912 900

 

Media: Simon Rew +44 (0) 1707 918 701

Philip Gawith (Teneo) +44 (0) 207 420 3143

 

 

LEI Number: 2138002P5RNKC5W2JZ46

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Date   Source Headline
12th Apr 20192:34 pmRNSDirector/PDMR Shareholding
10th Apr 20197:10 amRNSPreliminary results of Tesco PLC
10th Apr 20197:02 amRNSFinal Results
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15th Oct 20188:16 amRNSTender Offer to Purchase Outstanding Notes
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3rd Oct 20187:30 amRNSHalf-year Report of Tesco PLC
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3rd Oct 20187:00 amRNSInterim Results 2018/19
1st Oct 201811:30 amRNSTotal Voting Rights
1st Oct 20189:19 amRNSTesco Bank agrees settlement with FCA
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1st Oct 20189:01 amRNSSettlement with Financial Conduct Authority
11th Sep 201811:00 amRNSHolding(s) in Company
10th Sep 201811:30 amRNSDirector/PDMR Shareholding
141516171819202122

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