2nd Sep 2015 05:27
LONDON (Alliance News) - A bidding group led by private equity house MBK Partners Ltd is close to agreeing a deal to acquire Tesco PLC's South Korean business for around USD6.0 billion including debt, Bloomberg reported on Wednesday, citing people with knowledge of the matter.
The MBK-led group, which also includes South Korea's National Pension Service, is understood to have moved into exclusive negotiations with the retailer on Wednesday morning to acquire the Homeplus business, Bloomberg said.
The consortium has secured financing for the deal, according to one of the sources, and has pipped a rival consortium led by US buyout firm KKR & Co to acquire the business.
http://www.bloomberg.com/news/articles/2015-09-02/mbk-partners-said-near-6-billion-purchase-of-tesco-s-korea-unit
By Sam Unsted; [email protected]; @SamUAtAlliance
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