British retailer Tesco Plc has invited at least six firms including KKR & Co and Carlyle Group to bid for its South Korean unit Homeplus, valued at about $6 billion, people familiar with the matter told Reuters.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.If sold to private equity for $6 billion - which the sources say represents the equity value of Homeplus - the sale would be Asia's biggest private equity deal, according to Thomson Reuters data. It is also set to be the region's second-largest consumer retail deal ever. London-based CVC Capital Partners, Hong Kong-based Affinity Equity Partners and Asia-focused MBK Partners were also invited to bid, the people said, declining to be identified as the sale process has not been formally made public.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 1.5% or $-0.59/share to $38.87. In the past year, the shares have traded as low as $34.88 and as high as $42.64. On average, 839886 shares of TRI exchange hands on a given day and today's volume is recorded at 847080.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 1.79% or $-0.88/share to $48.20. In the past year, the shares have traded as low as $38.15 and as high as $53.00. On average, 681854 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 794281.
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