Private-equity giants including KKR and Carlyle Group are thought to be in the running to bid for Tesco’s Korean unit, Homeplus.
According to Reuters, as many as six potential suitors are thought to be eyeing a bid, with the business valued at about $6 billion.
The deal, if it goes through, would be Asia’s biggest private-equity transaction.
“A sale is seen as Tesco's best bet to cut debt and fund a turnaround plan as it battles to recover from an accounting scandal and reverse market-share losses at home to discount chains Aldi and Lidl,” Reuters said.
Other potential suitors include CVC Capital Partners and Affinity Equity Partners, it added.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.
