Division to be sold to a group of investors led by private equity firm MBK PartnersTesco has agreed to sell its South Korean unit to a group led by private equity firm MBK Partners for $6.1bn (£4bn),in its first major disposal since it hit financial difficulties. Seeking to raise funds to revitalise its domestic business, Tesco said it would sell Homeplus, or its biggest abroad unit,to a group of investors led by MBK and including the Canada Pension contrivance Investment Board, Public Sector Pension Investment Board and Temasek Holdings.
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Source: theguardian.com