Tesco sells South Korean unit for more than 4 bn pounds
LONDON, Sept 7, 2015 (AFP) - Troubled British retail giant Tesco agreed Monday to sell South Korean unit Homeplus to a consortium led by private equity firm MBK Partners for more than 4.0 bilion pounds (5.5 bilion euros, $6 billion).
Tesco announced the news in a statement as the UK's biggest retailer seeks to overhaul its business after reporting the biggest annual loss in its near 100-year history in February.
