Tesco to Pay $269 Million Over U.K. Accounting Scandal

Tesco Plc agreed to pay 214 million pounds ($269 million) to resolve regulatory probes into a 2014 accounting scandal that prompted a boardroom house-cleaning and an overhaul of the U.K. grocer’s supplier relations.

Tesco said its U.K. unit will pay 129 million pounds under a deferred prosecution agreement with the Serious Fraud Office, subject to court approval, and 85 million pounds to compensate investors under a separate settlement with the Financial Conduct Authority.

The agreements come as Tesco faces growing opposition from shareholders to its 3.7 billion-pound bid for U.K. wholesaler Booker Group Plc, which supplies restaurants and operates convenience ...