MBK Partners Ltd. plans to team with a Goldman Sachs Group Inc. private-equity fund to jointly bid for Tesco Plc's South Korean business, which could fetch about $6 billion, people familiar with the matter said.
MBK, North Asia's biggest independent buyout firm, and Goldman Sachs Principal Investment Area are preparing a binding offer for the Homeplus unit by the Aug. 17 deadline, according to the people. Affinity Equity Partners Ltd., Carlyle Group LP and KKR & Co. have also been invited to bid, the people said, asking not to be named as the process is confidential.
Tesco, the U.K.'s biggest supermarket chain, may finalize an agreement with a winning group in early September, one of the people said. Privateequity bidders are teaming up for the Homeplus purchase, as the acquisition would likely be too large for any one fund, people familiar with the matter said in June.