KKR, Carlyle said to be among firms invited to bid for Tesco's South Korean unit

Tesco has reportedly invited at least six firms including KKR and Carlyle Group to bid for its South Korean unit Homeplus, which is valued at about $6bn, as the supermarket retailer looks to cut debt and fund a turnaround plan.

According to people familiar with the matter cited by Reuters, London-based CVC Capital Partners, Hong Kong-based Affinity Equity Partners and Asia-focused MBK Partners were also invited to bid.

Separately, Hyundai Department Store said on Tuesday that it is mulling a bid for the company, although nothing has been decided yet.