April 15, 2019 / 3:46 AM / 4 months ago

Kumho Industrial says to sell its $314 mln stake in Asiana Airlines

SEOUL, April 15 (Reuters) - Kumho Industrial said on Monday it had decided to sell its one third stake in Asiana Airlines, worth around 356.3 billion won ($314.25 million)

The company said in a regulatory filing that its board had approved the stake sale plan, aimed at securing liquidity and improving its financial structure.

Shares in Asiana jumped 30 percent earlier on Monday to their highest in more than three years after local media reported on the stake sale plan. ($1 = 1,133.8000 won) (Reporting by Ju-min Park; Editing by Muralikumar Anantharaman)

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