A consortium of investors led by North Asia-focused private equity firm MBK Partners has agreed to acquire Homeplus, the South Korea-based subsidiary of United Kingdom-based retailer Tesco, for GBP4 billion (approximately US$6.1 billion) in cash. The consortium also includes Canadian pension funds Canada Pension Plan Investment Board (CPPIB) and Public Sector Pension Investment Board (PSPIB), as well as Singaporean sovereign wealth fund Temasek Holdings. CPPIB will acquire a 21.5 percent stake in the company for US$534 million; other investors’ breakouts were not disclosed. The transaction, which values Homeplus at GBP4.2 billion (approximately US$6.4 billion), is subject to shareholder and regulatory approvals and is expected to close in the fourth quarter of 2015.