LONDON (FNS) -- Tesco was expected to complete the acquisition of a majority stake in Hungarian food retailer Global TH by the middle of May.
The purchase price was to be about 12 million pounds ($18 million).
Global operates 43 stores in northwest Hungary, with a total selling area of about 100,000 square feet, Tesco said. The stores are centered in a region about 50 miles west of Budapest, a Tesco spokesman said. Global had pretax profits of about 1 million pounds ($1.5 mi