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Jun, 16 2015

Korean Snack maker Orion considering bid for Tesco unit valued at $6 billion

It received an information memorandum about the sale of the Tesco unit, Homeplus, an Orion spokesman told Reuters previously.\r\n

Orion Corp, the South Korea based snack maker on Monday said that it is considering bidding for British supermarket retailer Tesco PLC's South Korean unit, valued at about $6 billion, reported Reuteurs.

Maker and manufacturer of the "Choco Pie" dessert said it has made no decisions on whether to pursue a formal offer.

It received an information memorandum about the sale of the Tesco unit, Homeplus, an Orion spokesman told Reuters previously.

Tesco has hired HSBC to explore a sale of its South Korean operations, people familiar with the matter told Reuters earlier this month.

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