NS Home Shopping Named Preferred Bidder for Homeplus Express Acquisition

NS Home Shopping, an affiliate of Harim Group, has been named the preferred bidder in the final round to acquire Homeplus Express, the corporate supermarket business of Homeplus, which is undergoing corporate rehabilitation proceedings.

Homeplus said April 21 that it designated NS Home Shopping as the preferred bidder after the public tender for Homeplus Express closed that day. It said it plans to quickly wrap up negotiations on details and sign a final contract. NS Home Shopping said it participated in the final bidding and is awaiting the result.

A preferred bidder is the company that offers the most favorable terms among multiple candidates in a competitive process and receives priority negotiating rights for a set period. Selection does not guarantee the deal will be completed.

A preliminary bid held March 31 was reported to have drawn interest from MGC Global, the operator of Mega MGC Coffee, among others, though it has not been confirmed whether those firms joined the final round. Multiple bidders participated in the final bidding, establishing effective competition, according to reports.

Harim Group is a major conglomerate ranked around the top 30 in South Korea, with total assets nearing 17 trillion won. Homeplus is expected to move faster to secure liquidity through the sale of its Express unit.