MBK Partners said Wednesday it will provide an additional joint guarantee worth 100 billion won ($72 million) to support Homeplus's court-led restructuring.
Homeplus currently needs 200 billion won in emergency operating funds to sustain normal business activities — including product procurement, supplier payments and store operations — and to facilitate mergers and acquisitions of its remaining business units. If the fund-raising effort succeeds, MBK plans to provide a joint guarantee covering half that amount, or 100 billion won.
MBK said the decision reflects its obligations as a major shareholder in Homeplus's restructuring, adding that the total financial and credit support it has committed — including personal asset contributions — now stands at 500 billion won.
"This additional joint guarantee reflects our commitment to fulfilling our responsibilities as a shareholder to the very end for the normalization of Homeplus's restructuring," MBK said. "We believe that a successful restructuring is the most rational outcome in terms of employee job security, protection of partner companies and stability of bond recovery."
husn7@heraldcorp.com
