HDC-Mirae Asset consortium takes majority in Asiana Airlines for US$2.2b
A consortium of Hyundai Development Company (HDC) and Mirae Asset Daewoo has agreed to take a 76.5% stake in Asiana Airlines for KRW2.5t (US$2.2b), with Mirae Asset reportedly planning to set up an aircraft leasing company early next year. They signed a share purchase agreement Dec 27 with Kumho Industrial and Asiana to buy Kumho’s entire stake of 31% in the carrier and issue new shares of the airline to beef up its capital base, according to the companies’ announcement. Under the agreement, HDC will acquire 61.5% of Asiana for KRW2.01t, with Mirae Asset taking 15.0% for KRW490t. The acquisition cost is split into KRW2.18t rights offering for Asiana and KRW322.8b for the existing shares owned by Kumho Industrial. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-12-30/star/hdc-mirae-asset-consortium-takes-majority-in-asiana-airlines-for-us-2.2b
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HDC-Mirae Asset consortium takes majority in Asiana Airlines for US$2.2b
A consortium of Hyundai Development Company (HDC) and Mirae Asset Daewoo has agreed to take a 76.5% stake in Asiana Airlines for KRW2.5t (US$2.2b), with Mirae Asset reportedly planning to set up an aircraft leasing company early next year. They signed a share purchase agreement Dec 27 with Kumho Industrial and Asiana to buy Kumho’s entire stake of 31% in the carrier and issue new shares of the airline to beef up its capital base, according to the companies’ announcement. Under the agreement, HDC will acquire 61.5% of Asiana for KRW2.01t, with Mirae Asset taking 15.0% for KRW490t. The acquisition cost is split into KRW2.18t rights offering for Asiana and KRW322.8b for the existing shares owned by Kumho Industrial. <br/>
