Britain's biggest retailer Tesco sells stake in Chinese JV for $357m

Britain's biggest retailer Tesco sells stake in Chinese JV for $357m

Groceries in a shopping cart move through a food aisle at the Tesco Basildon Pitsea Extra supermarket, operated by Tesco Plc, in Basildon, U.K., on Tuesday, Dec. 1, 2015. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

Britain’s biggest retailer Tesco has sold its 20% share of a joint venture in China to a unit of its partner China Resources Holdings (CRH), raising 275 million pounds ($357 million) and completing its exit from the country.

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