Tesco May Sell Korean Business To Pay Debts.

According to Bloomberg report, Tesco, the UK's largest retailer, is considering selling its Korean business, which has a market value of more than 6 billion dollars.

Informed sources said, Tesco has found HSBC holding company as a financial adviser, but there are no more details to be disclosed, and the final sale result has not yet been determined.

Statistics show that in 1999, Tesco and

Samsung group co founded Samsung TESCO Home plus, and opened its first store Home plus in 2000.

At present, Tesco has more than 400 Home plus supermarkets in Korea.

In April this year, Tesco said that overseas business environment was difficult, especially in the Korean market. It seems that when Tesco can sell a good price, it is likely that South Korea will sell the Korean business to repay its debts.

After suffering the biggest annual loss since 1996,

It has been trying to fill its debt black hole of 21 billion 700 million pounds (US $33 billion 9 million) and stop the loss shop by closing it.

In 2014, Tesco announced that it would close 43 unprofitable stores within the UK, while shelving 49 super stores.

In May of that year, Tesco will

They are jointly sold to Huarun to start their business and withdraw from the Chinese market.

Prior to September 2013, Tesco sold its 150 loss Fresh&Easy stores in the United States, while closing the remaining 50 stores and completely withdrawing from the US market.

In addition to selling South Korean business, Tesco may also spin off its Dunnhumby, a consumer data analysis service.

According to the people, Tesco has invited private companies, including Bain Capital, CVC, Warburg Pincus, and other private companies to buy Dunnhumby, which is about 1 billion pounds (about $1 billion 535 million).

For those businesses, Tesco, Bain and Huaping investment group declined to comment, while CVC did not respond.

Bruno Monteyne, an analyst from London, said he was optimistic about Tesco's operations in South Korea, Thailand and Malaysia. The three businesses are valued at about $9 billion.

In addition, Tesco's Tesco Bank is also a potential sale target, probably selling 1 billion 400 million pounds (about 2 billion 149 million US dollars).