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