Investment Consortiums Make Bids to Acquire Asiana Airlines
It looks like a new owner for Asiana Airlines is getting closer to becoming a reality:
The stock prices of Asiana Airlines Inc. and its affiliates advanced Friday after three consortia joined a final auction to acquire the country’s second-biggest airline.
Asiana shares jumped 9.6 percent to 5,820 won, information and technology solutions provider Asiana IDT Inc. soared by nearly the daily limit of 30 percent to 22,650 won and low-cost carrier Air Busan Co. soared 12 percent to 7,150 won.
The broader KOSPI erased earlier gains to end in negative territory, falling 0.3 percent to 2,137.23.
On Thursday, the Aekyung-Stone Bridge Capital consortium, the consortium of Hyundai Development Co. (HDC) and Mirae Asset Daewoo, and the consortium of the Korea Corporate Governance Improvement (KCGI) and BankerStreet private equity funds submitted their final bids to Credit Suisse, the sole lead manager of the deal.
Aekyung and HDC reportedly presented the acquisition prices of around 1.5 trillion won (US$1.3 billion) and about 2.5 trillion won, respectively, for the country’s second-biggest airline after Korean Air Lines Co.
Yonhap
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