[Edaily Marketin Reporter Hur Jieun ] It has been confirmed that MBK Partners, the major shareholder of Homeplus, canceled all of its common stock holdings—worth 2.5 trillion won—last month without compensation. This cancellation was a measure that MBK had publicly announced several times since the early stages of the reorganization proceedings, and it appears to have been carried out following the approval of the reorganization plan.

According to the Seoul Bankruptcy Court and other sources on the 7th, approximately 2.4 million shares of Homeplus common stock held by MBK Partners through a special purpose company (SPC) were fully canceled without compensation as of September 14. This measure, included in the Homeplus reorganization plan approved by the court on September 2, was fully implemented in about two weeks.

MBK had previously explained that it had canceled shares worth 2.5 trillion won. However, the actual cancellation took place on September 14, after the reorganization plan was approved. It appears that MBK was only able to carry out the plan to cancel the common shares after the reorganization plan was approved.

Although MBK relinquished its status as a shareholder with the actual implementation of the cancellation, its relationship with Homeplus has not ended. According to industry sources, MBK and Chairman Kim Byung-ju have provided a joint and several guarantee for the full amount of the 200 billion won in emergency operating funds (DIP) loan provided by Meritz. They will continue to play a key role in the implementation of the reorganization plan, including the sale of assets from closed stores and the pursuit of corporate M&A. MBK explains that it has provided a total of 600 billion won in financial support through contributions of personal assets, cash injections, and guarantees.

Market observers view this share cancellation not merely as a fulfillment of responsibility but as a strategic move with future M&A in mind. With the existing major shareholders’ 2.5 trillion won worth of shares now completely eliminated, potential acquirers can consider a takeover without the legal and financial uncertainties associated with the equity structure. With the burden of acquiring existing shares removed, they are expected to be able to focus their resources solely on normalizing operations through the injection of new capital.

Homeplus is currently distributing teaser letters to major domestic and international companies in search of a new owner. It is reported that multiple candidates, including domestic and international strategic investors (SIs) and financial investors (FIs), are reviewing the acquisition. Samil Accounting Firm has been appointed as the advisor for the Homeplus sale.