MBK beaten by Lotte in $1.1b Hi-Mart take-private
MBK Partners has officially been beaten to the punch in its attempt to privatize Hi-Mart, as Lotte Shopping signed a deal to acquire the South Korean electronics retailer for KRW1.25 trillion ($1.1 billion).
The private equity firm was previously the preferred bidder on the transaction, but walked away from talks last week after due diligence uncovered a worse than expected decline in the business. MBK felt...
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