S.Korean snack maker Orion considering bid for Tesco unit

ORION Holdings

15/06/2015 07:08

SEOUL, June 15 (Reuters) - South Korea's Orion Corp 
 001800.KS  said on Monday it is considering bidding for British 
supermarket retailer Tesco PLC's  TSCO.L  South Korean unit, 
valued at about $6 billion.  
    Orion, a snack maker and manufacturer of the "Choco Pie" 
dessert, said it has made no decisions on whether to pursue a 
formal offer. It received an information memorandum about the 
sale of the Tesco unit, Homeplus, an Orion spokesman told 
Reuters previously.  
    Tesco has hired HSBC  HSBA.L  to explore a sale of its South 
Korean operations, people familiar with the matter told Reuters 
earlier this month.  ID:nL3N0YQ344   
 
 (Reporting by Joyce Lee; Editing by Kenneth Maxwell) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: TESCO SOUTHKOREA/ORION CORP