South Korean snack maker Orion considering bid for Tesco unit
Reuters
Published Jun 15, 2015 09:41
South Korean snack maker Orion considering bid for Tesco unit
SEOUL (Reuters) - South Korea's Orion Corp (KS:001800) said on Monday it is considering bidding for British supermarket retailer Tesco PLC's (L:TSCO) South Korean unit, valued at about $6 billion (3.9 billion pounds).
Orion, a snack maker and manufacturer of the "Choco Pie" dessert, said it has made no decisions on whether to pursue a formal offer. It received an information memorandum about the sale of the Tesco unit, Homeplus, an Orion spokesman told Reuters previously.
Tesco has hired HSBC (L:HSBA) to explore a sale of its South Korean operations, people familiar with the matter told Reuters earlier this month.
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Written By: Reuters
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