Homeplus initiates sale of hypermarket division and real estate

Homeplus has initiated the sale of its hypermarket business division and various real estate assets as part of its corporate restructuring plan. Following the court's approval of its rehabilitation plan, the company is moving forward with a merger and acquisition (M&A) process that includes its headquarters, online business division, and 67 core hypermarket locations.

Samil PwC, acting as the sale manager, is expected to distribute teaser letters to potential domestic and international strategic investors within the week. The sale of the hypermarket division will be conducted through a business transfer method, while 19 owned properties from closed stores will be sold individually. The liquidation value of the 67 hypermarket stores has been estimated at approximately 2 trillion won.

This move follows the previous sale of the Homeplus Express supermarket division to NS Home Shopping, a subsidiary of Harim Group. Homeplus aims to use the proceeds to improve its financial structure, reduce fixed costs by approximately 500 billion won, and accelerate debt repayment to creditors, including Meritz Financial Group.