Tesco has bought 10 Safeway stores from rival retailer Morrisons for around £87.6m. This is the latest batch of store divestments by Morrisons since the completion of its takeover of Safeway in March.
Morrisons was required to sell the stores in order to comply with the ruling of the Office of Fair Trading in December 2003.
Bob Stott, joint MD for Morrisons, said: “Our integration of the Safeway business is progressing well and today’s announcement is a further step in the overall process. The contract with Tesco is subject to the approval of the Office of Fair Trading, and discussions with them have commenced.”
The ten Safeway stores in question are in Carnforth, Crewe, Dinnington, Garforth, Ingleby Barwick, Newton-le-Willows, Redcar, Sheffield Infirmary, Sheldon and St Helen’s.
Morrisons was required to sell the stores in order to comply with the ruling of the Office of Fair Trading in December 2003.
Bob Stott, joint MD for Morrisons, said: “Our integration of the Safeway business is progressing well and today’s announcement is a further step in the overall process. The contract with Tesco is subject to the approval of the Office of Fair Trading, and discussions with them have commenced.”
The ten Safeway stores in question are in Carnforth, Crewe, Dinnington, Garforth, Ingleby Barwick, Newton-le-Willows, Redcar, Sheffield Infirmary, Sheldon and St Helen’s.
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