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Tesco to sell Korean unit to MBK-led group for $6.1 bn

By Religare

Tesco Plc is reportedly selling its South Korean business to a group led by private-equity firm MBK Partners Ltd. for USD 6.1 billion.

In a statement, Tesco said that the purchase will reduce borrowings by 4.23 billion pounds.

The group includes the Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Temasek Holdings (Private) Ltd.

Story first published: Monday, September 7, 2015, 23:00 [IST]
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