Buyout of Homeplus propels MBK into big league

The north Asia-focused private equity firm is stepping up in terms of deal size with the purchase of Tesco’s Korean discount retailer.

Private equity firm MBK Partners is on the verge of sealing its largest deal yet -- the purchase of Tesco’s Korean discount retail chain.

MBK and its partner Korea’s National Pension Service are leading the field of bidders vying for Tesco's Homeplus, the second-largest chain of stores in Korea after E-Mart, according to a person involved in the auction.

Other suitors include a consortium of KKR and Affinity Equity Partners and Carlyle which had teamed up with Sinagapore's GIC.

Britain’s Tesco has been shopping Homeplus for about $6 billion. MBK would secure leverage and only pay a fraction of that with equity...

¬ Haymarket Media Limited. All rights reserved.

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