MBK Partners, with participation from Canada Pension Plan Investment Board, has entered into an agreement to acquire Tesco's Homeplus in a deal valued at $6 billion. Operating in South Korea since 1999, Homeplus is a multi-channel retailer working through 140 hypermarkets, 609 supermarkets and 326 convenience stores; it also operates 139 shopping malls adjacent to its hypermarkets, with over 6,500 tenant leases. For the 53 weeks ended February 28, 2015, Homeplus generated a net loss of £131 million and EBITDA of £466 million on revenues of near £5.4 billion. CPPIB's participation in the transaction consists of a 21.5% stake that the pension has agreed to purchase for $534 million. Public Sector Pension Investment Board and Temasek Holdings are also participating in the deal.