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
Lululemon to shutter Washington distribution center, lay off 128 employees
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
P&G raises annual core profit forecast on resilient demand, price hikes
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
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