Temasek joins MBK-led consortium to bid for Tesco's South Korea unit: sources

[SINGAPORE] Asia-focused private equity firm MBK Partners has partnered with Singapore state investor Temasek Holdings to bid for the South Korea arm of British retailer Tesco, two people familiar with the matter told Reuters.

The sources declined to be named because the information remained confidential. A Temasek spokeswoman declined to comment while a spokesman for MBK could not be immediately reached.

MBK is competing against Affinity Equity Partners/KKR & Co consortium and Carlyle Group LP for buying Tesco's South Korea unit valued at about US$6 billion, Reuters has previously reported..

REUTERS