November 12, 2019 / 4:56 AM / 25 days ago

Hyundai Development-led consortium preferred bidder for Asiana stake - Kumho Industrial

SEOUL, Nov 12 (Reuters) - A consortium led by South Korea’s construction firm Hyundai Development Co has been picked as the preferred bidder for a controlling stake in Asiana Airlines, the carrier’s top shareholder Kumho Industrial said on Tuesday.

Kumho Industrial has put up its 31.05% stake for sale as it came under pressure from Asiana creditors to reduce debt at the loss-making carrier. (Reporting by Heekyong Yang; Editing by Himani Sarkar)

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