Hyundai Development Company (HDC) may take legal action in its failed acquisition of Asiana Airlines, according to a statement it released Tuesday.
Hyundai Development Company’s (HDC) deal with Kumho Industrial to acquire its stake in Asiana Airlines was officially scrapped on Friday, nine months after the two parties signed an agreement in December.
Hyundai Development Company (HDC) is sticking firm to its position on the acquisition of Asiana Airlines, possibly dooming the deal and the airline itself.
Korea Development Bank (KDB) has not agreed to a 1-trillion-won ($843-million) discount on Hyundai Development Company (HDC)'s acquisition of Asiana Airlines despite a report that the reduction in price had been discussed, the bank said.
The Asiana Airlines takeover may be back on track as the buyer indicated that it was open to a face-to-face meeting with the seller, which enthusiastically welcomed to overture.
On Monday, Korea Development Bank (KDB) accused Hyundai Development Company (HDC) of being uncooperative and unwilling to communicate.
All ways to keep cash-strapped Asiana Airlines afloat are being considered including nationalization, according to Financial Services Commission Vice Chairman Sohn Byung-doo.
Hours after Jeju Air made its announcement, Eastar Jet said it can't scrap the deal without violating a stock purchase agreement signed by the two parties in March.
Jeju Air abandoned its acquisition of cash-strapped Eastar Jet, saying its shareholders didn’t think it was a good idea.
Jeju Air claimed Thursday it now has the legal right to call off its acquisition of debt-laden Eastar Jet, a move that would not only likely doom Eastar but may also bring into question the acquisition of Asiana Airlines.