Reuters: Private Equity: MBK drops bid for S.Korea's Hi-mart stake-report

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

MBK drops bid for S.Korea's Hi-mart stake-report Jul 2nd 2012, 23:34 SEOUL, July 3 | Mon Jul 2, 2012 7:34pm EDT SEOUL, July 3 (Reuters) - South Korean private equity fund MBK Partners, which had been chosen as preferred bidder for a controlling stake in electronic retailer Hi-mart, has given up its bid because of share price falls and high price premiums, local media MoneyToday said on Tuesday. Hi-mart shareholders including Eugene Corp and Hi-mart Chairman Sun Jong-koo have put up a combined stake of 65.25 percent for sale, worth 744.6 billion Korean won ($650 million) as of the market's close on Monday. An official at MBK Partners was not immediately available for comment. ($1 = 1146.0500 Korean won) (Reporting by Hyunjoo Jin and Joyce Lee; Editing by Richard Pullin)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions