© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Tesco to Sell South Korean Subsidiary Following Expansion into Virtual Market
Posted 25th June 2015

Tesco to Sell South Korean Subsidiary Following Expansion into Virtual Market

Early reports indicate Orion Confectionery, MBK Partners and The Carlyle Group all vying to buy into Tesco’s South Korean venture Homeplus.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Tesco to Sell South Korean Subsidiary Following Expansion into Virtual Market
Image

Early reports indicate Orion Confectionery, MBK Partners and The Carlyle Group all vying to buy into Tesco’s South Korean venture Homeplus.

Tesco PLC, the British based retail giant, is selling shares in their South Korean arm, Homeplus. Early reports from The Korea Economic Daily indicate a flurry of interest, with a variety of firms such as popular snack producers Orion Confectionery, American investment group Goldman Sachs and the Asian private equity firm MBK partners all being mentioned in the negotiations.

Other names offered by the newspaper are The Carlyle Group, a global asset management group, Affinity Equity Partners, CVC Capital Partners and TPG Capital. Tesco is understood to have enlisted HSBC, the British banking firm, to underwrite the sale.

 Homeplus is a popular South Korean supermarket chain currently owned 100% by Tesco PLC which The Korea Economic Daily describes as ‘Korea’s No. 2 discount retailer’. Tesco originally entered the South Korean market in 1999 in conjunction with Samsung.

In February 2012 Tesco PLC announced in a statement that they were expanding Homeplus’s online services by adding to the number of ‘virtual stores’ situated at bus stops across South Korea, designed to allow busy commuters the chance to purchase their shopping on the move using an app on their smartphones. Their flagship ‘virtual store’ which opened in Seoul in 2011 won the prestigious ‘Business Innovation of the Year’ award in 2012 with judges for the award describing the stores as ‘outstanding’.

‘Using the virtual display, people can scan the relevant barcode or QR code with their Homeplus App to order different products and can even organize for home delivery that day. Tesco Homeplus’ Smartphone App, which customers need in order to shop at the virtual store, is now the number 1 shopping App in Korea, with over 900,000 downloads since it launched in April last year.’

 

 

Categories: Finance, Legal, M&A


You Might Also Like
Read Full PostRead - Eye Icon
Sie Holding acquires 51% of shares in Tagor Electronic doo Nis.
Legal
05/05/2015Sie Holding acquires 51% of shares in Tagor Electronic doo Nis.

Marija Tasic and Vanja Stojanovic, attorneys at law from Tasic & Partners, after months of negotiation, have finalized the acquisition between Austrian company System Industrie Electronic Holding AG (SIE Holding) and Tagor Electronic doo Nis, leading manufactu

Read Full PostRead - Eye Icon
How to Conduct Real Estate Market Research Like a Pro For Your Modern Business
News
24/04/2024How to Conduct Real Estate Market Research Like a Pro For Your Modern Business

Learning how to conduct real estate market research and be like a pro in modern business is important.

Read Full PostRead - Eye Icon
Avant Diagnostics and Amarantus Diagnostics to Combine with Theranostics Health
Innovation
07/03/2016Avant Diagnostics and Amarantus Diagnostics to Combine with Theranostics Health

Avant Diagnostics, Inc, a biotechnology company focused on the development of oncology based diagnostics, and Amarantus Diagnostics, Inc, a wholly-owned subsidiary of Amarantus BioScience Holdings, Inc, today announced that the companies have jointly entered i

Read Full PostRead - Eye Icon
LinkedIn Outbound Sales Tactics
News
08/04/2024LinkedIn Outbound Sales Tactics

The battle for the customer is never-ending. If your company used to be inbound-only but could use some help, appending outbound sales tactics will infuse fresh ideas into your strategy.   With the slight difference in who initiates the sales process (whe

Read Full PostRead - Eye Icon
Riverbed: SD-WAN’s Latest Innovator
Innovation
05/12/2016Riverbed: SD-WAN’s Latest Innovator

Riverbed is a leading technology provider which supports applications, websites, networks, data centers, the cloud, and remote offices to work more efficiently.

Read Full PostRead - Eye Icon
Can You Buy Shares Of A Company Online From The Uk?
News
10/10/2022Can You Buy Shares Of A Company Online From The Uk?

You've certainly daydreamed more than once about how you'll invest in a firm, retire well, and see the globe. The accomplishment of this is not a simple task, but one has to begin somewhere. To get started in the world of investing, you don't have to need a la

Read Full PostRead - Eye Icon
Construction Lawyer Reaches New Heights
Leadership
14/04/2020Construction Lawyer Reaches New Heights

Law is an arena in which experience and expertise can provide a cutting edge over the competition. In construction law today, being knowledgeable about everything from planning to completion is a necessity. Bringing all of that and so much more to the table is

Read Full PostRead - Eye Icon
What are the Most Effective Ways to Advertise Your Business Online?
Innovation
09/12/2022What are the Most Effective Ways to Advertise Your Business Online?

For business owners, the ways in which you can promote your company have changed dramatically over the last decade. The majority of marketing now takes place online, particularly since the start of the pandemic.

Read Full PostRead - Eye Icon
Health and Wealth
Innovation
04/03/2021Health and Wealth

The role of pharmacy benefit managers often goes uncredited within the USA health system. As a third party, acting outside of integrated health systems, it’s easy to see why many organizations can’t employ one focused on their business. This changed thanks



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow