Samsung names Interpark consortium as preferred bidder

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Samsung names Interpark consortium as preferred bidder

Samsung Group said yesterday it has picked a consortium led by Interpark Corp. as the preferred bidder for its maintenance, repair and operation (MRO) unit, after having come under government and public pressure to withdraw from the business.

A consortium led by Interpark, a leading online book and ticket seller, will sign an agreement to buy Samsung’s MRO arm, iMarketKorea, by next month and complete the acquisition before the end of this year, Samsung said in a statement.

The consortium includes private equity fund H&Q and the Korea Venture Business Association. The two parties are currently negotiating the financial terms and other details of the deal, it added.

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