S Korean activist fund KCGI keen to buy controlling stake in Asiana Airlines

S Korean activist fund KCGI keen to buy controlling stake in Asiana Airlines

FILE PHOTO: An Asiana Airlines Airbus A350-900 is seen at the Airbus delivery center in Colomiers near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau

South Korea’s activist fund KCGI, the second-largest shareholder in the parent company of Korean Air Lines Co Ltd (003490.KS), is interested in buying a controlling stake in rival carrier Asiana Airlines Inc (020560.KS), KCGI Chief Executive Kang Sung-boo told Reuters.

He said the fund is in talks with several local and overseas entities to form a consortium to bid for the 31.05% stake in Asiana Airlines, which has been put up for sale by top shareholder Kumho Industrial (002990.KS). The stake is worth $282 billion as of Friday’s closing price

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