Tesco sells South Korean unit for more than 4b pounds
Published Mon, Sep 7, 2015 · 06:34 AM
[LONDON] Troubled British retail giant Tesco agreed on Monday to sell South Korean unit Homeplus to a consortium led by private equity firm MBK Partners for more than £4.0 bilion (S$8.6 billion).
Tesco announced the news in a statement as the UK's biggest retailer seeks to overhaul its business after reporting the biggest annual loss in its near 100-year history in February.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion