Tesco is exploring options for the sale of its South Korean operations, according to media reports.
The retail giant is understood to have hired HSBC bankers to look into the potential sale, which comes as the company looks to bolster spending in its home UK market.
Industry sources told Reuters that the sale could net Tesco around US$6bn. Tesco currently operates 400 stores in South Korea under the Homeplus brand.
The International Business Times suggested the potential sale could attract bids from global buyout firms such as KKR, the Carlyle Group, CVC Partners and TPG Capital Management, while Asian-based firm MBK Partners shapes as another suitor.
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