#PRIVATEEQUITY Bidders emerge in Hi-Mart sale




By Ross Geesman

Retailers are lining up to join the bidding for South Korea electronics chain, Hi-Mart. According to this Reuters report, Shinsegae and GS Retail confirmed their participation via regulatory filings, while Lotte Group told Reuters it was considering a bid as well. We will see if any other bidders emerge soon, as letters of intent are due today.



The companies will be bidding to purchase a combined 57.6 percent stake in Hi-Mart. The stake, worth about 1 trillion won, is being sold by it’s top three share holders, Eugene Corp (31.3%), Himart CEO Sun Jong-koo (17.4%), and HI Consortium (8.9%). The sellers have appointed Citigroup Inc to advise on the sale.

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