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Bloomberg
TBH Global Co, the South Korean clothing retailer whose brands include Basic House, is considering a sale of its Chinese business that could raise about $200 million,
according to people familiar with the matter.
TBH Global shares jumped the most in more than 13 years.
The company has held talks with potential advisers about the sale, said the people, who asked not to be identified because the matter is private.
The business could draw interest from other apparel companies as well as private equity firms, one of the people said.
TBH Global is exploring various ways to raise funds to repay debt and the sale is one of the options for consideration, a representative for the company said in response to Bloomberg queries. The company’s creditors include Goldman Sachs Group Inc.
A representative for Goldman declined to comment.