Hyundai Development Company consortium acquires Asiana Airlines

29 December, 2019

Hyundai Development Company announced (27-Dec-2019) its consortium and Kumho Industrial agreed to acquire the latter's majority stake in Asiana Airlines for KRW2.5 trillion (USD2.2 billion). Hyundai Development Company will have approximately 61.5% stake in Asiana by investing KRW2 trillion (USD1.8 billion) while Mirae Asset Daewoo, which participated as a financial investor, will hold about 15%. The deal incudes Asiana's affiliates Air Seoul and Air Busan. [more - original PR - Korean]