Firms linked to Korean Air's parent leap on activist fund's stake buy

Hanjin Logistics

16/11/2018 03:01

** Shares of Hanjin Kal Corp  180640.KS , a holding company
of Hanjin Group that runs Korean Air Lines  003480.KS , jump as
much as 17.6 pct, a record percentage gain, after a South Korean
private equity fund buys a stake in Hanjin Kal
    ** Private equity fund KCGI's special purpose entity Grace
Holdings acquires a 9 pct stake in Hanjin Kal and says it plans
to engage actively with the company's management 
    ** The activist fund's stake purchase boosts hopes for
better corporate governance at Korean Air's parent Hanjin Group
whose chairman is mired in a scandal involving allegations of
embezzlement and breach of trust, says Choi Nam-kon, an analyst
at Yuanta Securities
    ** Hanjin Kal is the biggest shareholder in Korean Air
    ** Hanjin Group Chairman Cho Yang-ho was indicted on Oct. 15
on charges, including embezzlement and breach of trust, adding
to a string of woes at the country's biggest airline group
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    ** Hanjin Transportation Co Ltd  002320.KS , Hanjin Group's
shipping arm, also surges 9.6 pct
    ** The broader market  .KS11  remains flat    

 ((joori.roh.thomsonreuters.com@reuters.net))