Asiana bidding will begin officially next month

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Asiana bidding will begin officially next month

Kumho Asiana Group said Thursday it will begin the process of selling its airline unit next month.

At a shareholder meeting, Han Chang-soo, president and chief executive of Asiana Airlines said, “as the due diligence is going smoothly as planned, the group will give the public bidding notice next month.”

Shares of Asiana Airlines rose 2.9 percent, and Kumho Industrial’s climbed 4 percent.

Conglomerates, such as SK, CJ, Hanwha and Aekyung, have been mentioned as potential bidders for the country’s second-biggest full-service carrier after Korean Air Lines, though they have denied the rumors.

Early this month, Korean Air Chairman Cho Won-tae said the company “is looking at the deal.”

Yonhap

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