In a stock exchange announcement today, the grocer announced that Tesco Holdings has bought 100 per cent of the issued share capital of Dobbies.

The grocer revealed that it would buy the remaining shares in Dobbies that it did not already own in May,after Scottish billionaire Sir Tom Hunter decided to sell his 29.2 per cent holding.

It ended a long-running stand-off between Tesco and Hunter, which began when Tesco bought in to Dobbies last summer.

In June, Tesco agreed to pay£12 a share, valuing the business at£124.5 million.

Topics