Editing Tesco (section)

==== South Korea ====
{{main|Homeplus}}
In April 1999, Tesco entered into a 51-49% joint venture with [[Samsung C&T Corporation]] entitled Tesco-Samsung, with the latter's supermarket chain [[Homeplus]] merging under it. Over the years, Tesco became the majority owner of the business.<ref name="auto">{{Cite web|url=https://news.mt.co.kr/mtview.php?no=2011022714211921084&outlink=1|title=삼성테스코 '삼성' 떼고 '홈플러스'로|date=27 February 2011|website=머니투데이}}</ref> By 2008, they held Tesco held 94% of the shares in the venture.<ref name=reuters>{{Cite news |url=http://uk.reuters.com/article/idUKSEO28008020080514 |title=E-Land in talk to sell stores to Tesco South Korea unit |work=Reuters |date=14 May 2008 |access-date=16 April 2010 |archive-date=6 August 2023 |archive-url=https://web.archive.org/web/20230806194154/https://www.reuters.com/?edition-redirect=uk |url-status=dead }}</ref> It was the second largest retailer in South Korea, just behind [[Shinsegae|Shinsegae Group]].<ref name=reuters /> On 14 May 2008, Tesco agreed to purchase 36 hypermarkets with a combination of food and non-food products from [[E-Land]] for $1.9&nbsp;billion (£976&nbsp;million) in its biggest single acquisition, making Tesco the second largest in the country. A majority of the E-Land stores formerly belonged to French retailer [[Carrefour]] before 2006, and most of the stores were converted to Homeplus outlets. By that time, Homeplus had 66 outlets.<ref>{{Cite news |url=http://uk.reuters.com/article/mergersNews/idUKSEO28065320080514 |title=Tesco to buy 36 S.Korean stores |date=14 May 2008 |work=Reuters |access-date=14 May 2008 |archive-date=5 July 2008 |archive-url=https://web.archive.org/web/20080705051856/http://uk.reuters.com/article/mergersNews/idUKSEO28065320080514 |url-status=dead }}</ref><ref>{{cite news |url=http://news.bbc.co.uk/1/hi/business/7399957.stm |title=Tesco set to grow in South Korea |work=BBC News |date=14 May 2008 |access-date=6 January 2010 |archive-date=18 May 2008 |archive-url=https://web.archive.org/web/20080518000223/http://news.bbc.co.uk/1/hi/business/7399957.stm |url-status=live }}</ref> In February 2011, The Tesco-Samsung venture was renamed as Homeplus Co, Ltd.<ref name="auto"/> and in July, Samsung C&T sold their remaining 5.32% stake to Tesco, making Homeplus a fully owned subsidiary.<ref>{{Cite web|url=https://www.fnnews.com/news/201107102202516491?t=y|title=홈플러스，삼성서 완전 분리|date=10 July 2011|website=파이낸셜뉴스}}</ref>

In September 2015, Tesco announced that it would sell Homeplus to [[MBK Partners]], a South Korean buyout firm, which partnered with a Canadian pension fund and Singapore's [[Temasek Holdings]] in a transaction worth 4.2 billion pounds.<ref>{{cite news|access-date=7 September 2015|date=7 September 2015|title=Tesco sells South Korea stores for £4bn|url=https://www.bbc.com/news/business-34171937|newspaper=[[BBC News]]|archive-date=8 September 2015|archive-url=https://web.archive.org/web/20150908051520/http://www.bbc.com/news/business-34171937|url-status=live}}</ref>