Kumho Asiana Group names HDC and Mirae Asset as preferred bidders for Asiana Airlines

Kumho Asiana Group named the Hyundai Development Company (HDC) and Mirae Asset Daewoo consortium as the preferred bidder for its 31% stake in Asiana Airlines (Yonhap/Korea Times/Korea JoongAng Daily, 12-Nov-2019). Kumho stated: "We have selected the HDC-Mirae Asset Daewoo consortium out of the three consortia that submitted final bids for the Asiana stake as it was analysed as the most qualified buyer to put Asiana's business back on track and secure its mid and long term competitiveness". Kumho's 31% holding is currently valued at USD390 million. As previously reported by CAPA, the other bidders included a consortium of Aekyung Group and Stonebridge Capital, and a consortium of Korea Corporate Governance Improvement and BankerStreet. HDC also operates hotels and duty free stores in partnership with the Samsung Group.