MBK Cancels Entire Homeplus Common Shares Ahead of Sale

MBK Partners completed the free cancellation of its entire Homeplus common share stake worth 2.5 trillion won (~$1.86 billion) on Sept. 14, after the rehabilitation plan was approved on Sept. 2. MBK remains a joint guarantor of a 200 billion won DIP loan and has provided 600 billion won in support as Homeplus seeks a buyer with Samil PwC as advisor.

• About 2.4 million Homeplus common shares worth 2.5 trillion won cancelled
• MBK and Chairman Kim Byung-joo guarantee 200 billion won Meritz DIP loan
• MBK provided 600 billion won in financial support to Homeplus
• Samil PwC advises the sale; domestic and foreign SI and FI reviewing bids