Topland has sold a portfolio of 33 Tesco supermarkets to Pearl Group, the insurance company owned by Hugh Osmond, for £950m. Financial Times. The Times

Topland bought the portfolio in 2004, when it was valued at £675m, as a 50:50 joint venture with Tesco,.

Tesco will keep its 50% of the portfolio and the debt financing from Morgan Stanley will remain in place.