CHESHUNT, ENGLAND - The saga of Tesco’s accounting drama may soon be coming to a close, with the U.K.-based retailer agreeing to pay nearly $269 million (214 million pounds) in order to resolve its issues with Britain’s Serious Fraud Office and Financial Conduct Authority.

According to a report by Bloomberg, Tesco has shared its U.K. unit will pay $161 million (129 million pounds) under a deferred prosecution agreement with the Serious Fraud Office, as well as $107 million (85 million pounds) to compensate its investors under a separate settlement with the Financial Conduct Authority.

This payment stems from Tesco’s 2014 announcement that it had overstated profits by $328 million (263 million pounds), which was later found out to be low by about $70 million by independent auditors, as we’ve reported previously. At the time of the error, eight senior staff members were suspended, and Chairman Sir Richard Broadbent had resigned.  

Tesco has shared it expects to record a one-time charge of 235 million pounds to cover the penalty, compensation and related costs, Bloomberg reports. Investors who bought shares between August 29 and September 19, 2014, will also be eligible for compensation of 24.5 pence a share, plus interest. 

Tesco and the SFO will seek final court approval for the proposed regulatory deals on April 10.

Tesco PLC