Tesco sells South Korean arm to Temasek backed PE consortium for $6.1b

Tesco sells South Korean arm to Temasek backed PE consortium for $6.1b

People walk out from a Homeplus market in Seoul, South Korea, August 24, 2015. REUTERS/Kim Hong-Ji

Tesco is selling its South Korean arm to a group led by private equity firm MBK Partners for $6.1 billion (4 billion Pounds), it said on Monday, as the British supermarket retreats from foreign markets to focus on reviving its troubled domestic business.

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