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Photo = Homeplus |
[Alpha Biz= Kim Jisun] MBK Partners, the private equity owner of South Korean retail chain Homeplus, has decided to relinquish KRW 2.5 trillion (approximately USD 1.8 billion) in equity to enable the sale of the company, which is currently undergoing court-led corporate rehabilitation.
According to industry sources, MBK and Homeplus jointly filed a petition with the rehabilitation court on June 13, seeking approval for a pre-packaged M&A prior to the completion of the court's rehabilitation process. A decision on the petition is expected as early as next week.
The move has drawn keen attention, with major retail-related conglomerates such as NAVER, GS Group, and Hanwha Group being floated as leading candidates to acquire Homeplus. There is also speculation that e-commerce giants like Coupang and China’s AliExpress could potentially join the bidding process.
A report by Samil PwC (PricewaterhouseCoopers Korea) estimates Homeplus’s current liabilities at KRW 2.9 trillion, while its assets—including real estate holdings—are valued at approximately KRW 6.8 trillion.
Market watchers say the success of the pre-packaged deal will be a key indicator of investor appetite for distressed asset transactions in Korea’s retail sector.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
