| Mobile Web

Search results for MBK

Industry

Meritz to inject 200 billion won into Homeplus restructuring, MBK to guarantee loans

Meritz Financial Group decided to provide 200 billion won in emergency debtor-in-possession financing to support Homeplus\' restructuring, on condition that MBK Partners and its chairman provide joint guarantees for the full loan amount. Meritz Fire & Marine Insurance, Meritz Securities and Meritz Capital approved the DIP support at separate board meetings on Wednesday. Meritz said it made the decision to share hardships and fulfill social responsibility.

Finance

Kim Byung-ju, MBK to fully guarantee 200 billion won Homeplus DIP financing

Kim Byung-ju (김병주), chairman of MBK Partners, and MBK Partners plan to provide a full joint and several guarantee for 200 billion won in debtor-in-possession financing needed for Homeplus’ rehabilitation. MBK said it would guarantee the entire loan if Meritz gives final approval for the emergency operating funds. It said Homeplus needs the funding to continue operations and reduce damage to partners and suppliers. MBK said prior support totalled about 400 billion won.

General News

Homeplus store sale proceeds spark fresh clash over operating funds and debt recovery

Homeplus, facing possible bankruptcy after a decision to scrap its rehabilitation procedure, has become embroiled in another dispute over how to use proceeds from the sale of closed stores. The retailer is pursuing a sale worth about 170 billion won for 2 stores. It wants to use part of the money as emergency operating funds, but its largest creditor, Meritz Financial Group, is said to favor debt recovery. The Democratic Party has urged MBK Partners and Meritz to secure funding and is seeking a hearing.