MBK kicks off turnround of Korea’s Homeplus

After winning a highly competitive auction, MBK must roll up its sleeves and work hard to stop falling like-for-like sales at Tesco’s Korean retail unit.

MBK kicks off turnround of Korea’s Homeplus

Private equity firm MBK Partners sealed its largest deal yet -- the purchase of Tesco’s Korean discount retail chain Homeplus for $6.4 billion. Now it must stem falling sales to make the deal pay off.

MBK and its consortium partners pledged on Monday to invest 1 trillion won in Homeplus, the second-largest chain of stores in Korea after E-Mart, over the next two years. 

The stakes are high for the north...

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