Tesco to buy 36 Homever stores in South Korea for $1.86 bln
LONDON (MarketWatch) — British supermarket group Tesco said that it will buy 36 Homever stores in South Korea from the E-Land Group for 958 million pounds ($1.86 billion), including debt. The Homever stores, most of which were formerly Carrefour hypermarkets, have a total sales area of 3 million square feet, plus a further 1.3 million square feet of adjacent shopping mall space. Tesco said that the acquisition and conversion of these hypermarkets, twenty of which are in the Greater Seoul and Gyeonggi metropolitan area, will strengthen the market position of its Homeplus unit.
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