Hyundai Development says consortium closes $2.2 bln acquisition of Asiana Airlines

Asiana IDT

27/12/2019 03:24

SEOUL, Dec 27 (Reuters) - South Korean builder Hyundai
Development Co  294870.KS  said on Friday its consortium has
closed on its 2.5 trillion won ($2.16 billion) acquisition of a
controlling stake in the country's second-biggest carrier Asiana
Airlines Inc  020560.KS . 
    Hyundai Development said out of the 2.5 trillion won its
consortium with Mirae Asset  006800.KS  will pay for the
acquisition, its portion was 2.01 trillion won. 
    The airline's top shareholder, Kumho Industrial Co Ltd
 002990.KS , put its 31.05% stake up for sale earlier this year
as it came under pressure from Asiana creditors to reduce debt
at the loss-making carrier.  urn:newsml:reuters.com:*:nL4N27S10H
   ($1 = 1,160.0500 won)

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