S.Korea's Jeju Air to buy 51% stake in Eastar Jet

AK Holdings

18/12/2019 03:42

SEOUL, Dec 18 (Reuters) - South Korea's AK Holdings Inc
 006840.KS  said on Wednesday its budget airline unit Jeju Air
Co Ltd  089590.KS  signed an MoU to buy a 51% stake in unlisted
low-cost carrier Eastar Jet Co Ltd for about 69.5 billion won
($58.93 million). 
    Jeju Air said in a statement it expected to acquire newly
issued shares by Eastar Jet, and to sign a final deal by the end
of this year.    
($1 = 1,179.3300 won)

 (Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)
 ((jungyoon.lee@tr.com; +82 2 6936 1467;))