South Korean creditors plan to provide 1.6 trillion won ($1.40 billion) in finan...
FILE PHOTO: A view of the Asiana Airlines' head office in Seoul, Aug. 8, 2013. REUTERS/Kim Hong-Ji
Asiana Airlines’ biggest shareholder earlier this month said it would sell its entire stake worth 564 billion won as of Monday’s closing share price, in response to creditors’ rejection of an earlier request for support of 500 billion won. Speaking at a meeting, Hong also said creditors wanted top shareholder Kumho Industrial Co Ltd to sell its stake within this year.
A spokesman for the parent group of both Asiana and Kumho Industrial said it will “do its utmost” to sell Asiana Airlines, adding that it expects to sign a preliminary deal with creditors later on Tuesday.
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