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[THE INVESTOR] Local retailer E-Land on June 15 signed a binding memorandum of understanding with the U.S. private equity fund KKR & Co. regarding the sale of hypermarket chain Kim’s Club.
E-Land told local media that the memorandum is based on details worked out during previous negotiations and that the two sides are continuing negotiations.
The two firms are expected to hammer out details over the next month.
According to reports, E-Land and KKR have negotiated over the latter’s acquisition of the operation rights of Kim’s Club and facilities under the hypermarket’s control. There are currently 37 stores under the Kim’s Club chain.
By Choi He-suk (cheesuk@heraldcorp.com)
E-Land told local media that the memorandum is based on details worked out during previous negotiations and that the two sides are continuing negotiations.
The two firms are expected to hammer out details over the next month.
According to reports, E-Land and KKR have negotiated over the latter’s acquisition of the operation rights of Kim’s Club and facilities under the hypermarket’s control. There are currently 37 stores under the Kim’s Club chain.
By Choi He-suk (cheesuk@heraldcorp.com)
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Articles by Korea Herald
