This article was posted on the ChosunBiz MoneyMove (MM) site at 6:13 p.m. on Mar. 31, 2026.
Two potential buyers participated in the preliminary bid to sell Homeplus Co.'s supermarket business division (SSM), Homeplus Express. Both are reported to be strategic investors (SI) with actual financing capabilities. Samil accounting firm, the sale adviser, is expected to report this to the Seoul Bankruptcy Court on Apr. 1 and discuss the next steps.
According to the investment banking (IB) industry, by 3 p.m. that day two SIs had submitted letters of intent (LOIs) in the preliminary bid for Homeplus Express conducted by Samil accounting firm. One of them is known to be MGC Global (formerly Anhouse), which operates the low-price coffee brand MEGA MGC COFFEE. However, Lotte, GS Holdings and Eugene Group, which were initially reported to have participated in due diligence, appear not to have submitted LOIs.
Industry sources say that all SIs participating in this preliminary bid are candidates with actual funding mobilization capability.
Homeplus Co. said other candidates may submit additional LOIs, leaving open the possibility of extending the preliminary bid deadline, but it is also reported that, depending on the court's decision, the buyers who participated that day could be narrowed down as acquisition candidates.
Samil accounting firm plans to report the preliminary bid results to the Seoul Bankruptcy Court on Apr. 1, and after discussions with the court, finalize the detailed sale schedule, including confirming qualified acquisition candidates (shortlist) and selecting the preferred negotiating party.
Thereafter, short-listed parties are expected to be given opportunities for detailed due diligence through access to a virtual data room (VDR). During the due diligence period, buyers will examine Homeplus Express's financial soundness, profitability, store network and other specific aspects of corporate value.