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Tesco and British Land exchange goods

Tesco and British Land have come to an agreement whereby each will swap its share in a portfolio, leading to benefits for both companies.  Tesco has gained British Land’s 50% share of the Aqua portfolio in return for Tesco’s 50% share in two portfolios. A balancing payment from British Land will also be made to the supermarket giant, reflecting the difference in value and amount of liabilities of the assets being swapped.