Tesco's Dunnhumby suitors said to have abandoned auction
8th Sep 2015 12:30
(ShareCast News) - Private equity firms have reportedly abandoned their offers for Tesco's data arm, Dunnhumby, after the retailer struck a deal with the unit that raised concerns over financing. According to Sky News, buyout groups including Apax Partners, CVC Capital Partners, Clayton Dubilier & R
Read moreUK retail sales slip back despite food recovery, says BRC-KPMG
8th Sep 2015 06:59
(ShareCast News) - UK retail sales fell during August, though supermarkets fared better as the recovery in food sales accelerated. Like-for-like retail sales fell 1.0% in August compared to the same month in 2014, versus optimistic consensus forecasts of a 0.9% rise, while total sales fell 0.1%, acc
Read moreTesco eyes central and eastern Europe exit following Korea sale
7th Sep 2015 17:32
(ShareCast News) - Tesco has discussed extending its asset sale to its central and eastern European businesses as it looks to clean up its balance sheet, reports said on late Monday afternoon. The UK supermarket giant, which has announced the sale of its Homeplus Korean unit for over £4bn, had begun
Read moreTesco to sell Korean unit to MBK consortium for £4.24bn
7th Sep 2015 07:20
(ShareCast News) - Supermarket retailer Tesco has agreed to sell its South Korean unit, Homeplus, to a group of investors led by MBK Partners for £4.24bn. The consortium includes Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Temasek Holdings Limited. Tesco will re
Read moreTesco 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 t
Read moreDiscounters set to eat Tesco´s lunch, JP Morgan says
2nd Sep 2015 11:01
(ShareCast News) - The UK´s 'Big 4' food retailers pose "a rather structural threat" for the industry, according to JP Morgan. In Ireland, Aldi and Lidl already have 18% of the market in the bag - alongside 8% of the UK market in the till - and are continuing to grow their market shares the fastest.
Read moreTesco reportedly picks MBK as preferred bidder for Homeplus
2nd Sep 2015 08:16
(ShareCast News) - Tesco has reportedly chosen private equity firm MBK Partners as preferred bidder for its South Korean unit, Homeplus. Last week, Reuters cited people familiar with the matter as saying that Tesco had received three separate binding bids for the unit at around 7 trillion won, or £3
Read moreFTSE 100 movers: Tullow recovers, Tesco and Morrison hit by Nielsen data
28th Aug 2015 14:04
(ShareCast News) - By mid afternoon on Friday, the FTSE 100 was almost exactly flat on the day, meaning despite all the drama of China's 'Black Monday', London's blue chips would end the week higher than they finished the Friday before. Leaving the rest in its wake by mid-afternoon was Inmarsat, aft
Read moreSupermarket sales volumes fall in August says Nielsen
28th Aug 2015 11:05
(ShareCast News) - The volumes of UK supermarket sales in recent weeks fell for the first time since December, with Tesco, Sainsbury and Morrison all losing market share to discount stores. According to data gathered by Nielsen, grocery sales volumes shrank 0.3% during the four weeks ending 15 Au
Read moreTesco ex-CEO Clarke quizzed by SFO, reports say
28th Aug 2015 09:22
(ShareCast News) - Ex-Tesco chief executive Philip Clarke has been called in for questioning by the Serious Fraud Office over the £326m accounting irregularities that emerged in the company's accounts soon after he left. Clarke has been requisitioned, according to sources cited by Bloomberg, and wil
Read moreFriday newspaper round-up: Tesco, First-time buyers, consumer confidence
28th Aug 2015 07:21
(ShareCast News) - The ousted chief executive of Tesco is to be interviewed by the Serious Fraud Office over the supermarket group's £326m accounting scandal. Philip Clarke, who left Tesco last year after a series of profit warnings, is to be interviewed under caution, Bloomberg reported, citing peo
Read moreTemasek said to have joined MBK in bid for Tesco's Homeplus
27th Aug 2015 09:10
(ShareCast News) - Singapore state investor Temasek Holdings has reportedly teamed up with private equity firm MBK Partners to bid for Tesco's South Korean unit, Homeplus. Reuters reported on Tuesday that MBK has already entered the race for the business, which is valued at $6bn and will compete
Read moreSainsbury's loses second place to Asda, says Kantar
25th Aug 2015 11:22
(ShareCast News) - Growth in the British grocery markets continued to be sluggish, with all the "big four" chains losing market share, according to the latest figures published by Kantar Worldpanel for the 12 weeks ending 16 August. Sainsbury's was the only one of the "big four" to post any growth,
Read moreTesco may slash Homeplus sale price as Korean won weakens
25th Aug 2015 08:36
(ShareCast News) - Tesco may have to reduce the asking price if it wants to sell its Korean business, Homeplus, after potential bidders failed to submit bids amid the stock market and currency turmoil. The deadline for the three shortlisted private equity companies to make their bids to Tesco was al
Read moreTesco eyes three-way private equity bid battle for $6m Korean arm
21st Aug 2015 13:24
(ShareCast News) - Private equity firms have reportedly formed three separate teams to bid for Tesco's South Korean unit, Homeplus. According to Reuters, which cited people familiar with the matter, Asia-based Affinity Equity Partners has joined up with US private equity firm KKR, an arm of Goldman
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