Agence France-PresseSeptember 10, 2013 18:33
Britain's biggest retailer, supermarket group Tesco, said Tuesday it had struck a deal to sell most of its loss-making US West Coast chain Fresh & Easy to investment group Yucaipa.
Tesco, which in April had announced plans to offload Fresh & Easy, said Yucaipa would acquire more than 150 stores as well as distribution and production facilities. The remaining 50 stores will close.
More than 4,000 out of 5,000 staff will transfer to the new business, which Tesco will loan about £80 million ($126 million, 95 million euros), the British group said in a statement.