Hi-Mart Dubs MBK Preferred Bidder For $1B Majority Stake

Law360, New York (June 25, 2012, 1:26 PM EDT) -- Private equity firm MBK Partners has emerged as the preferred bidder for a majority stake in South Korean electronics retailer Hi-mart Co. Ltd., according to a Monday regulatory filing.

The stake, held mostly by South Korean construction manufacturer Eugene Corp., includes just more than 65 percent of Hi-mart's total shares, according to media reports. Analysts have pegged its value in the $1.1 billion to $1.3 billion range, though Hi-mart's filing did not name a price attached to the proposed sale.

Moving forward, the parties will work...
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