(MENAFN) A group of firms led by MBK Partners Ltd, Seoul-based private equity fund, is close to acquiring UK based retail giant Tesco Korean unit after being picked as a top bidder early this week.
Tesco has been offered USD5.9 billion by the South Korean companies to by its Homplus outlet, and according to reports, the deal may be finalized as early as Friday.
Homeplus, which was first launched in 1999, has disappointingly suffered a net loss of USD2.5 billion last year, shifting from a profit of USD5.5 billion won from 2013, as the reports showed.
"MBK Partners has yet to announce its stance about the continued operation of Homeplus and the job security of employees," said the labor union in a recent release.
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