UPDATE: Investors Lineup for Tesco’s Homeplus
UPDATE: September 5, 2015. It looks like the investor group consisting of MBK Partners, CPPIB and Temasek Holdings have won the bid to acquire Homeplus from Tesco.
Institutional investors are bidding for Tesco’s South Korean unit called Homeplus Co Ltd. It is Tesco’s biggest business outside of the United Kingdom, generating 7.05 trillion won (US$ 5.9 billion) in 2014. Tesco has hired HSBC to manage the sales process. Tesco is looking to sell the unit to improve its balance sheet, still reeling from a major accounting scandal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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