MBK Partners’ sale of Homeplus Express hits a snag over valuation gap

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The story "MBK Partners’ sale of Homeplus Express hits a snag over valuation gap" was covered 2 days ago by Korea Economic Daily, a news publisher based in South Korea.

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MBK Partners’ sale of Homeplus Express hits a snag over valuation gap - Korea Economic Daily

Quick Summary:

Homeplus Express operates a one-hour delivery service from the time of ordering, utilizing offline stores to take advantage of the rapid growth in available groceries, including fresh foods.“Homeplus Express’ offline stores are also aging, meaning most of them require large-scale investments to renovate,” said another potential buyer.

MBK Partners’ planned sale of Homeplus Express, the supermarket chain of South Korean hypermarket operator Homeplus, has hit a snag as potential buyers are increasingly losing their interest in the company over valuation differences.

Industry sources, however, said on Friday that all of them have put on hold their bids to acquire Homeplus Express over differences in its valuation.“It’s been almost three months since Homeplus Express was up for sale but due diligence on Homeplus Express has made little progress,” said one of the retail companies with intent to buy it.