Korean Air submits sole initial bid for $1.1 billion KAI stake
août 31, 2012 Laisser un commentaire
SEOUL | Fri Aug 31, 2012
(Reuters) – Korean Air Lines Co (003490.KS) was the sole preliminary bidder for an estimated 1.2 trillion won ($1.06 billion) stake in aircraft maker Korea Aerospace Industries (047810.KS), KAI’s largest shareholder Korea Finance Corp said Friday.
Such an outcome was widely expected, and analysts have said it could nudge shareholders closer to considering a direct stock purchase agreement with Korean Air if no other bidders step forward, or halt the sale altogether.
Shareholders plan to meet to decide whether to hold another round of bidding, Korea Finance Corp said in a statement.
State-run Korea Finance Corp and other shareholders put a 41.75 percent stake in KAI up for sale earlier this year, including management control.
($1 = 1130.4000 Korean won)
(Reporting By Joyce Lee; Editing by Richard Pullin)