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Kim Byung-ju, Chairman of MBK Partners. (Photo courtesy of Yonhap News) |
[Alpha Biz= Kim Jisun] MBK Partners has raised approximately KRW 100 billion in emergency operating funds to be injected into Homeplus, which is currently undergoing court receivership, according to investment banking industry sources on March 2.
The funds were reportedly secured using assets owned by MBK Chairman Kim Byung-ju, including his residence in Hannam-dong, as collateral. The financing was arranged ahead of a court decision scheduled for March 4 on whether to extend Homeplus’ rehabilitation process, marking one year since the retailer filed for court protection.
Homeplus submitted its rehabilitation plan to the court in December, centering on the injection of DIP financing as well as the sale of corporate supermarket (SSM) units and underperforming stores.
Under the plan, MBK Partners and creditor Meritz Financial Group are each expected to contribute KRW 100 billion, while the Korea Development Bank is set to provide an additional KRW 100 billion in loans.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
