Asiana sells 2 percent stake in CJ Korea Express in block dealAsiana Airlines said yesterday that it has unloaded its stake in CJ Korea Express, the nation’s biggest logistics company, to improve its financial health. The carrier sold its 2 percent stake, or 472,000 shares, in CJ Korea Express through a block deal valued at around 50 billion won ($46 million) before the opening of the local stock market. Asiana Airlines, whose debt ratio stands at 531 percent, vowed to continue to sell off non-business assets to enhance its financial health. The move came a year after the carrier disposed of its 19 percent stake in Korea Express to CJ Group.
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