Will Harim Group Put Out Homeplus's Fire? Harim Group Selected as Preferred Bidder for Homeplus Express

NS Home Shopping Steps In as Affiliate

Valid Competition Established with Multiple Bidders

Homeplus Expected to Overcome Corporate Rehabilitation Crisis

Multiple companies participated in the bidding for the acquisition of Homeplus Express, and Harim Group has been selected as the preferred negotiating partner. With financially strong Harim Group stepping in, there is an assessment that Homeplus, currently undergoing corporate rehabilitation proceedings, can breathe a sigh of relief from its liquidity crisis.

According to the investment banking (IB) industry on April 21, Homeplus and the sale advisor, Samil PwC, selected NS Home Shopping, an affiliate of Harim Group, as the preferred negotiating partner in the main bidding process for the sale of Homeplus Express held that day. Previously, NS Home Shopping operated “NS Mart,” a supermarket chain (SSM) similar to Homeplus Express. Although it sold NS Mart to E-Mart in 2012, it is believed that their previous experience in the SSM business has led them to conclude that they can fully utilize Homeplus Express.

It is still uncertain whether MGC Global, the operator of MegaMGC Coffee who participated in the preliminary bidding conducted by Samil PwC on March 31, took part in the main bidding. However, it is understood that valid competition was established as multiple companies participated.

The sellers plan to compare the submitted bidding terms and proceed with full-scale negotiations on a business transfer agreement with Harim. The price is reported to be lower than the 300 billion won level initially proposed by the sellers.

With Harim Group, which ranks among the top 30 conglomerates in Korea and has total assets approaching 17 trillion won, entering the acquisition of Homeplus Express, Homeplus is also expected to see an improvement in liquidity.

Meanwhile, Harim Group is expected to use the acquisition of Homeplus Express to secure a nationwide store network, expanding distribution channels for its affiliates’ food products, fresh foods, and ready-to-eat meals.

Yonhap News Agency

This content was produced with the assistance of AI translation services.