June 9, 2020 / 1:39 AM / a month ago

Hyundai Development wants to reconsider terms of $2.1 bln Asiana Airlines buy

SEOUL, June 9 (Reuters) - South Korea’s Hyundai Development Co said on Tuesday it has told creditors of Asiana Airlines it wants to reconsider the terms of buying the troubled carrier due to “unexpected negative situations coming to light”.

A consortium led by Hyundai Development Co agreed late last year to acquire Asiana Airlines for about 2.5 trillion won ($2.09 billion).

Hyundai Development Co said in a statement that it agrees with creditors on the need to extend the acquisition’s agreed closing date. ($1 = 1,198.4300 won) (Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)

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