The Traderszone Network

Published in TZ Latest News 6 September, 2015 by The TZ Newswire Staff

Tesco sells South Korean unit to MBK-led group for $6.1 billion

Britain’s Tesco (TSCO.L) has agreed to sell its South Korean unit to a group led by private equity firm MBK Partners for $6.1 billion, it said on Monday, in its first major disposal since it hit financial difficulties. Seeking to raise funds to revitalize its domestic business, Tesco said it would sell Homeplus, its biggest overseas unit, to a group of investors led by MBK and including the Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Temasek Holdings [TEM.UL].