HSBC has muscled into the top 10 of the UK M&A advisory rankings after landing a role advising Tesco on its agreed £4.2 billion deal to offload its South Korean business to a private equity-led investor consortium.

The UK retailer on September 7 said in a statement it had agreed to sell its South Korean operation, Homeplus, to a consortium led by private equity firm MBK Partners that also includes Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Singaporean investor Temasek.