: Hyundai consortium named as Asiana Airlines preferred bidder
- 5 years ago
Kumho Group has announced a preferred bidder for its controlling stake in Korea's second-biggest carrier, Asiana Airlines.
It's a consortium led by Hyundai Development Company, which reportedly bid around 2 billion dollars for Kumho's stake of 31 percent, beating out its rivals, one of which was a consortium led by local cosmetic company Aekyung Industry.
The HDC consortium has already passed the transport ministry's screening process and is set to begin talks with Kumho Industrial.
Asiana recorded a loss in the first half of the year of around a quarter billion dollars... and its debts amounted to more than 8 billion dollars.
It's a consortium led by Hyundai Development Company, which reportedly bid around 2 billion dollars for Kumho's stake of 31 percent, beating out its rivals, one of which was a consortium led by local cosmetic company Aekyung Industry.
The HDC consortium has already passed the transport ministry's screening process and is set to begin talks with Kumho Industrial.
Asiana recorded a loss in the first half of the year of around a quarter billion dollars... and its debts amounted to more than 8 billion dollars.