Tesco sells South Korean unit for more than £4bn
British retail giant Tesco
London - Arab Today
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 (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.
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