MBK Partners to Provide Additional Joint Guarantee of 100 Billion Won for Homeplus Rehabilitation

On June 10, MBK Partners announced that it has decided to provide an additional joint guarantee worth 100 billion won to support the rehabilitation of Homeplus.

Currently, Homeplus requires an emergency operating fund injection of 200 billion won to continue normal business activities such as purchasing goods, paying partner companies, and operating stores, as well as to pursue mergers and acquisitions (M&A) of its remaining business divisions.

MBK plans to provide a joint guarantee for 100 billion won, which is half of the 200 billion won to be raised, if the operating funds are successfully secured.

According to MBK, this decision is part of the shareholder’s commitment to the normalization of Homeplus, and the total amount of funds and credit support, including the use of personal funds for Homeplus’s rehabilitation to date, has reached 500 billion won.

MBK stated, "This additional joint guarantee reflects our intention as a shareholder to fully fulfill our responsibilities for the successful rehabilitation of Homeplus," adding, "We believe rehabilitation and normalization are the most reasonable outcomes in terms of employee job security, protection of partner companies, and the stability of debt recovery."

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