LONDON, March 28 Britain's biggest retailer
Tesco has agreed to pay a 129 million pound ($162
million) fine to settle an investigation by prosecutors over a
2014 profit overstatement, it said on Tuesday.
The supermarket group has struck a deferred prosecution
agreement (DPA) after months of talks with the Serious Fraud
Tesco said the DPA was the subject of a preliminary court
ruling on Monday and the SFO and the firm's UK unit Tesco Stores
Limited will now seek final judicial approval to the DPA from
the court on April 10.
The DPA relates to false accounting by Tesco's UK business
between February 2014 and September 2014.
It is a voluntary agreement under which Tesco will not be
prosecuted provided the business fulfils certain requirements,
including paying the fine.
($1 = 0.7966 pounds)
(Reporting by James Davey; editing by Kate Holton)