Hyundai Development-led consortium preferred bidder for Asiana stake - Kumho Industrial

Air Busan

12/11/2019 04:51

SEOUL, Nov 12 (Reuters) - A consortium led by South Korea's
construction firm Hyundai Development Co  294870.KS  has been
picked as the preferred bidder for a controlling stake in Asiana
Airlines  020560.KS , the carrier's top shareholder Kumho
Industrial said on Tuesday. 
    Kumho Industrial has put up its 31.05% stake for sale as it
came under pressure from Asiana creditors to reduce debt at the
loss-making carrier. 

 (Reporting by Heekyong Yang; Editing by Himani Sarkar)
 ((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))