Legal verdict crucial for Korean Air's acquisition of Asiana Airlines to be handed down soon
Arirang News
2020-11-30
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대한항공.아시아나 통합 운명은... 법원, 이르면 30일 결정
A crucial legal verdict for Korean Air's acquisition of its rival Asiana Airlines is expected to be handed down as early as Monday.
The Seoul Central District Court will rule on the injunction filed by the equity fund Korea Corporate Governance Improvement against the state-run Korean Development Bank's plan to inject over 720 million U.S. dollars into Hanjin KAL through a rights offering and convertible bonds,... which would then be used for the acquisition.
The fund, representing an alliance that opposes the deal, insists that the move will damage the Hanjin Group holding firm's existing shareholders' value.
If the court accepts the fund's injunction request,... the deal will fall apart and Asiana will be once again placed under the control of its creditors.
A crucial legal verdict for Korean Air's acquisition of its rival Asiana Airlines is expected to be handed down as early as Monday.
The Seoul Central District Court will rule on the injunction filed by the equity fund Korea Corporate Governance Improvement against the state-run Korean Development Bank's plan to inject over 720 million U.S. dollars into Hanjin KAL through a rights offering and convertible bonds,... which would then be used for the acquisition.
The fund, representing an alliance that opposes the deal, insists that the move will damage the Hanjin Group holding firm's existing shareholders' value.
If the court accepts the fund's injunction request,... the deal will fall apart and Asiana will be once again placed under the control of its creditors.
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