Tesco withdraws from South Korea
The Tesco will sell its South Korean business network. The UK's largest retailer announced its decision on Monday on the London Stock Exchange.
Tesco has agreed to sell its South Korean unit to a group led by private equity firm MBK Partners for 6.1 billion USD, it said on Monday, in its first major disposal since it hit financial difficulties.
Tesco said under the terms of the deal it would receive 4 billion pounds (6.07 billion USD) in cash. After adjustments for tax and transaction costs, the net cash proceeds will be around 3.35 billion pounds. (MTI, Kertész Róbert)
Related news
Black Friday deals at the largest domestic chains: Lidl, Tesco, Spar and many others
Black Friday fever will not leave customers and retail chains…
Read more >
Péter Szijjártó: South Korea’s largest food company is building its first factory in the region in Hungary
South Korea’s largest food company is building its first Central…
Read more >
The customer is the important to everyone, everywhere, at all times – We were learning together (Business Days 2024 Part 1)
Wednesday morning of the Business Days conference, the topic was…
Read more >Related news
OMV to deliver almost 50 ultra-fast charging points in the country by the end of 2025
OMV’s new fast chargers are already available at 15 locations…
Read more >
More than 1.2 billion forints of modernization in the INTERSPAR hypermarket in Székesfehérvár
SPAR continuously strives to ensure that its stores provide comfortable…
Read more >
LG partners with Tenstorrent to develop AI solutions
LG Electronics (LG) and Tenstorrent announced that they have expanded…
Read more >
