[Infostock Daily = Reporter Kim Jong Hyo] Sohn Byung-doo, vice chairman of the Financial Services Commission, said on the 28th, "We are in talks with the agency considering all possibilities."
After finishing the 'Financial Risk Response Group Meeting' held at the Myeongdong Bank Hall in Seoul this morning, vice chairman Sohn met with reporters and answered the question whether it is possible to nationalize it as an Asiana Airlines acquisition and merger(M&A) no-deal.
However, Vice Chairman Sohn added, "There is no need to make a hasty prediction that we are going this way or that way in advance."
Last year, the HDC Hyundai Development Company-Mirae Asset Daewoo Consortium signed an agreement with Kumho Industrial to acquire Asiana Airlines, but the deal closure (termination) is being delayed due to the deepening management difficulties in the aviation industry due to the new coronavirus infection (COVID19).
When Kumho Industrial sent a proof of content to HDC to finish the transaction, HDC responded to the re-examination of Asiana. Inside and outside the financial sector, it is said that HDC is building a justification for returning 250 billion won in down payment with the abandonment of the acquisition.
In particular, if 800 billion won in perpetual bonds held by Asiana Airlines' main creditor Korea Development Bank and the Export-Import Bank of Korea are converted into stocks, they can be raised to the largest shareholder with 37% of Asiana shares, which is gaining momentum in the observation that they can nationalize and resell them.
Reporter Kim Jong Hyo kei1000@infostock.com
