Supermarket group Tesco is understood to be on the verge of agreeing a £20 million deal to sell its Dillons newsagents chain.
The group is expected to announce within weeks it is selling the 180 shops to private convenience store chain TM Retail.
Tesco has been trying to offload Dillons since it acquired the newsagents as part of its £357 million acquisition of T&S Stores in October 2002.
It has begun converting the stores, which trade under the One Stop and Day & Nite brands, into Tesco Express shops, but has been looking for a buyer for Dillons.
Tesco was also believed to be trying to buy some of TM Retail's stores to convert into Tesco Express outlets but is understood to have shelved this part of the deal.
There are about 40 Dillons outlets across Sussex, most of which trade under the One Stop brand, the remainder as Dillons.
Tuesday July 27, 2004
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