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HDC Consortium selected as preferred bidder on Asiana Airline.

HDC현산사실상 아시아나 새 주인…우선협상대상자로 선정


The Hyundai Development Company Consortium was selected as the preferred bidder yesterday at the board meeting held by Kumho Engineering and Construction to become, the new owner of Kumhos Asiana Airline.

 

Except for HDC, Aekyung (애경), the Jeju Airline Consortium, and Korea Corporate Governance Improvement (KCGI) Consortium also put in bids for the airline.

 

However, HDC had the advantage since they offered about 2.5 trillion won for the airline while others only presented near 1.5 trillion won.

 

Also, for the examination of the eligibility, both HDC and Aekyung are qualified while KCGI didnt undergo the test.

 

Still, the bidding might fail since Kumho is willing to sell the nations number 2 airline for as much as possible emphasizing its value.

 

Kumho explained. The company collected the bidding proposals of the airline from the buyers until last Thursday and decided to choose HDC as the preferred bidder after a review. They added, the two companies will discuss the main contract terms later.

 

Asiana Airline is currently estimated to be in 9.6 trillion won worth of debt which is 660 percent of their capital at 1.5 trillion.
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