Adds KCGI participation, background, share costs
Adds KCGI participation, background, share costs
SEOUL, Nov 7 (Reuters) – A consortium led by South Korean retail-to-airline group Aekyung and activist fund KCGI submitted rival bids for a controlling stake in Asiana Airways Inc 020560.KS, the nation’s No. 2 provider, firm officers stated on Thursday.
The 31.05% stake, value about 382 billion received ($329.2 million) at present costs, has been put up on the market by high shareholder Kumho Industrial Co Ltd 002990.KS because it struggles to cut back debt.
Kumho Industrial in April employed Credit score Suisse to handle the sale of its stake in Asiana Airways.
Aekyung additionally has a stake within the nation’s largest finances provider Jeju Air 089590.KS.
Asiana shares slid almost 5.2% whereas its finances arm, Air Busan Co Ltd 298690.KS, gained about 2%, and upkeep affiliate Asiana IDT Inc 267850.KS rose almost 4.5% as of 0538 GMT.
Analysts stated the…