Hyundai Development Company delays plans to complete acquisition of Asiana Airlines stake

30 April, 2020

Hyundai Development Company (HDC) will reportedly delay plans to complete the process of acquiring a majority stake in Asiana Airlines from the previous deadline of 30-Apr-2020 to an as yet unannounced date agreed to by both parties (The Korea Herald/Pulse News/Han Kyung, 29-Apr-2020). HDC stated it requires more time to meet the conditions precedent for the acquisition, including receiving approval from relevant regulatory authorities in Russia. Relevant authorities in the US, China, Turkey, Uzbekistan and Kazakhstan have already granted approval for the acquisition.