HDC Hyundai Development's planned takeover of Asiana Airlines falls through
- 4 years ago
아시아나 매각 결렬... HDC현산, 아시아나 또 재실사 요구
The planned takeover of major South Korean carrier Asiana Airlines... by property developer HDC Hyundai Development... appears to have fallen through.
A notice of a cancellation of the contract could be sent out as early as this week... citing a failure for the two sides to narrow their differences over acquisition terms.
HDC had reportedly demanded another 12 weeks of due diligence on Asiana Airlines, which was rejected by the airline's main creditor, Korea Development Bank.
With this, the government may consider offering financial support to the debt-ridden carrier.
The planned takeover of major South Korean carrier Asiana Airlines... by property developer HDC Hyundai Development... appears to have fallen through.
A notice of a cancellation of the contract could be sent out as early as this week... citing a failure for the two sides to narrow their differences over acquisition terms.
HDC had reportedly demanded another 12 weeks of due diligence on Asiana Airlines, which was rejected by the airline's main creditor, Korea Development Bank.
With this, the government may consider offering financial support to the debt-ridden carrier.