Tesco Set To Reveal Sale Of Giraffe, Turkish Unit: Sky News

By Markets MarketWatch Pulse

Tesco PLC is poised to announce it has sold its Giraffe chain of U.K. restaurants and its Turkish business Kipa, Sky News has reported. The deals could be made public as early as Wednesday, Sky said in its report Tuesday, citing sources. The supermarket giant plans to sell Kipa to Turkish counterpart Migros Ticaret , Sky said. Tesco is in the middle of an effort to refocus on its main food business after the retailer was hit by an accounting scandal. Tesco shares were up 0.9% as supermarket stocks rallied in London on the back of the release of fresh sales figures.

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