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...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition