Tesco set to announce completion of Homeplus sale on Monday

6th Sep 2015 15:43

(ShareCast News) - All eyes will be on Tesco on Monday, with the supermarket chain widely expected to announce the disposal of its Homeplus business.The 900-store operation, which is based in South Korea, is expected to be bought for around £4bn by a MBK Partners-led consortium that also includes the country's National Pension Service.At its height, the chain generated annual revenues of around £4bn and is considered to be one of the retailer's few successes abroad.If successful, the consortium will have beaten off rivals KKR and Carlyle Group.It was being reported over the weekend that Tesco, having selected the consortium as the preferred bidders, had entered into exclusive negotiations.