PE Groups Bid for Tesco's South Korean Business in Potential $6B Deal
August 24, 2015
In what could be one of Asia's largest PE deals, three investor groups have reportedly submitted bids to acquire Tesco's South Korean business, Homeplus, valued at roughly $6 billion. Affinity Equity Partners is said to have teamed up with KKR, with The Carlyle Group and GIC bidding together. MBK Partners is believed to be seeking funding from South Korea's National Pension Service. With over 400 stores, 500 franchise stores and 6 million+ customers served every week, Homeplus is Tesco's largest business out of the U.K.