ID :
22226
Wed, 10/01/2008 - 22:43
Auther :
Shortlink :
http://m.oananews.org//node/22226
The shortlink copeid
Tesco`s Korean unit aims for sales of 12.7 tln won in 2010
SEOUL, Oct. 1 (Yonhap) -- British supermarket company Tesco Plc's South Korean
venture said it aims to generate sales of 12.7 trillion won (US$10.5 billion) in
2010 as it has completed a takeover of smaller rival Homever.
Samsung Tesco Homeplus Co. became the nation's second-biggest discount retailer
after acquiring 35 Homever outlets from local retailer E.Land Group for 958
million pounds.
"Today, Homplus and Homever became one family," said Lee Seung-han, chief
executive officer of Tesco's Korean unit, referring the completion of the
takeover.
The acquisition is expected to give Tesco's Korean unit an edge over its bigger
rival Shinsegae Co., which operates the nation's No. 1 discount store chain
E-Mart, according to Lee.
venture said it aims to generate sales of 12.7 trillion won (US$10.5 billion) in
2010 as it has completed a takeover of smaller rival Homever.
Samsung Tesco Homeplus Co. became the nation's second-biggest discount retailer
after acquiring 35 Homever outlets from local retailer E.Land Group for 958
million pounds.
"Today, Homplus and Homever became one family," said Lee Seung-han, chief
executive officer of Tesco's Korean unit, referring the completion of the
takeover.
The acquisition is expected to give Tesco's Korean unit an edge over its bigger
rival Shinsegae Co., which operates the nation's No. 1 discount store chain
E-Mart, according to Lee.
