Tesco's shortlist for South Korea sale said to include Affinity, Carlyle and MBK Partners

Private equity firms Affinity Equity Partners, Carlyle Group, MBK Partners and the private equity arm of Goldman Sachs have reportedly been shortlisted for the sale of Tesco’s South Korean Unit, Homeplus, which is valued at around $6bn.

Reuters cited sources as saying that bids for the next round are due in mid August.

Orion Corp, a non-private equity suitor, failed to move to the next round, Reuters said, while Hyundai Department Store Co, which had shown an interest in the unit, did not bid.

Tesco is looking to sell Homeplus in an attempt to cut debt and fund a turnaround plan.