LONDON, Sept 7 (Reuters) - Britain's Tesco TSCO.L has
agreed to sell its South Korean unit to a group led by private
equity firm MBK Partners for 4 billion pounds ($6.08 billion),
it said on Monday, in its first major disposal since it hit
financial difficulties.
Tesco said in a statement the sale of Homeplus, its biggest
overseas unit, to a group of investors led by MBK and including
the Canada Pension Plan Investment Board, Public Sector Pension
Investment Board and Temasek Holdings would help to pay down
debt.
The world's third largest retailer has been looking to make
disposals after a string of profit warnings sparked by problems
in its home market led to its credit status being cut to junk.
($1 = 0.6586 pounds)