This article was displayed on the ChosunBiz MoneyMove (MM) site at 1:32 p.m. on Apr. 29, 2026.
Homeplus Co. has concluded negotiations with Harim Group over the detailed terms for the sale of Homeplus Express, its corporate-type supermarket (SSM). Once the Seoul Bankruptcy Court approves an extension of the Homeplus rehabilitation plan on the 30th, they plan to finalize the signing of the stock purchase agreement (SPA).
With Meritz Financial Group conducting a final review of whether to provide DIP financing totaling 200 billion won, including a short-term loan for the Homeplus Express sale price, the market views the success of the Express sale as effectively hinging on Meritz's decision.
According to the investment banking (IB) industry on the 29th, Homeplus Co., the seller of Homeplus Express, is said to have narrowed differences with Harim Group on the terms of the business transfer, including price, and wrapped up negotiations that day. Having completed review of the contract, they are awaiting the court's decision.
On the 21st, Samil Accounting Corporation, the lead advisor for the Homeplus Express sale, closed the main bidding and selected Harim Group's NS Shopping as the preferred bidder. The sale price is said to be in the 200 billion won range.
If the deal goes through, Harim Group is expected to accelerate its long-held goal of strengthening its distribution and logistics network. It appears likely to pursue integration with its existing logistics business by leveraging Homeplus Express's SSM network, which is based in key locations across the Seoul metropolitan area.
Although the two sides reached agreement on detailed terms that day, it remains uncertain whether the court will decide to allow Homeplus Co. to continue its corporate rehabilitation. The deadline for approval of Homeplus's rehabilitation plan is the 4th of next month. However, with the 1st to the 3rd being holidays, the court is expected to reach a conclusion by the 30th of this month.
The court is expected to extend the rehabilitation plan only after confirming whether Homeplus Co. has secured liquidity. The 100 billion won in DIP funds provided earlier by the largest shareholder, MBK Partners, has been nearly exhausted, and Harim's acquisition payment for Homeplus will take time to be deposited, so Homeplus has requested DIP financing support from Meritz in the 200 billion won range.
In the meantime, some in the industry suggested that Meritz wanted to decide on DIP financing support only after confirming whether the Homeplus Express sale would actually be completed. An industry official said, "With Homeplus and Harim finalizing the detailed terms of the sale and the transaction becoming more realistic, Meritz's decision on financing support is now the final hurdle for the Express sale to go through."