LONDON (dpa-AFX) - Ocado Group plc (OCDDY, OCDO.L), a technology company, on Friday announced that it has drawn down on a Letter of Credit under its deal with Kroger Co. (KR), for $152 million, issued by the Bank of Nova Scotia.
The 2018 partnership between Ocado and Kroger included a Letter of Credit arrangement to support the company's capital contribution toward its investment in Kroger's online business.
The Letter of Credit, with a seven-year maturity from the agreement date, has now matured.
The company said it will release its full year 2025 Half Year Preliminary Results on July 17.
On Thursday, Ocado closed trading 0.19% higher at 263.50 on the London Stock Exchange.
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