Tesco's Turkish subsidiary to buy leases, inventory and equipment of 21-store Ardas supermarket chain in northwestern Turkey

LOS ANGELES , December 23, 2011 () – Tesco Plc’s Turkish arm, Tesco Kipa Kitle Pazarlama Ticaret & Gida Sanayi AS, has agreed to acquire leases of the 21-store Ardas supermarket chain in northwestern Turkey, Bloomberg reported Dec. 23.

Tesco Kipa will buy the stores' leases, equipment and inventory from Ardas following approval by Turkey's antitrust regulator, Tesco Kipa said in a statement to the Istanbul Stock Exchange.

The primary source of this article is Bloomberg, New York, New York, on Dec. 23, 2011.

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