Multiple companies have submitted letters of intent (LOI) to acquire Homeplus Express, the convenience-style supermarket chain of Homeplus, according to the retailer.
Homeplus confirmed on May 31 that several firms filed LOIs for Homeplus Express. Samil PricewaterhouseCoopers, the sale's lead advisor, accepted submissions until 3 p.m. on the day.
"As the sale advisor is currently in discussions, we have not disclosed the names of the companies that submitted LOIs or the specific acquisition terms," a Homeplus official said. "It is understood that additional submissions may still be possible depending on how the process progresses."
A wide range of potential buyers has been mentioned in connection with the sale. They include established retailers such as Lotte, Emart, GS Retail, BGF Retail, and Nonghyup Hanaro Mart, as well as e-commerce firms such as Coupang, Kurly, and AliExpress, and conglomerates including Harim Group and Yujin Group. However, analysts note that actual participation may be limited given that Homeplus has been operating at a loss. In fact, many of the companies mentioned have distanced themselves from the possibility of making a bid.