27 nov.: Orchestra Kazibao : PROJET D'OFFRE PUBLIQUE DE RACHAT D'ACTIONS (..
28 nov.: VIVALIS RECOIT LE PRIX DE LA RELATION ACTIONNAIRES
28/11/2012 03:28:00

Korea Finance Corp: To Extend Due-Diligence Period for Korea Aerospace Sale to Dec 7

By Kanga Kong

SEOUL--Major shareholders of Korea Aerospace Industries Ltd. (0478410.SE) have extended by two weeks the due diligence process for the bidding of their combined 41.8% stake in the airplane components maker, worth an estimated $1 billion.

"We decided to extend the due-diligence period to Dec. 7 and take final bids by Dec. 17 due to the requests by preliminary bidders," Korea Finance Corp., KAI's largest shareholder, said Wednesday in a statement.

Two preliminary bidders, Korean Air Lines Co. (003490.SE) and Hyundai Heavy Industries, have asked the sellers for an extension, saying they couldn't complete due diligence by Nov. 23, as originally scheduled, as they faced strong resistance from KAI's labor union to complete the process.

Most analysts say the deal is unlikely to close by the year-end--as targeted by the key shareholders--or may fall through as some lawmakers are against the deal, particularly ahead of the presidential election on Dec. 19.

The deal is valued around 1.12 trillion won based on KAI's Tuesday closing price of KRW27,450.

The planned sale is the second after shareholders failed in August to attract sufficient bidding interest, with Korean Air being the sole bidder then. Under Korean law, any auction of state-owned company's assets must attract at least two bidders before it can proceed.

Korea Finance is selling 26.4% of KAI with the remaining 15.4%stake being sold by Hyundai Motor Co. (HYMLY), Doosan Group and Samsung Techwin Co. (012450.SE).

Korea Aerospace was formed in 1999 through the merger of the aerospace divisions of Samsung, Hyundai and the now-defunct Daewoo Group, during the 1997-98 Asian financial crisis.

Write to Kanga Kong at kanga.kong@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 27, 2012 21:28 ET (02:28 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

27 nov.: Orchestra Kazibao : PROJET D'OFFRE PUBLIQUE DE RACHAT D'ACTIONS (..
28 nov.: VIVALIS RECOIT LE PRIX DE LA RELATION ACTIONNAIRES

Envoyer un commentaire

Related debate

  • 1 semaine
  • 1 mois
  • 1 an
16 mai
 
Hej,   Jeg har været herinde i dette forum siden 2010, og har fulgt mange debatører, men en af dem s..
28
21 mai
PNDORA
Hej Enkommentar,   Du skrev i en besked i går til en anden debatør, om hvad det var i Pandora's regn..
22
17 mai
PNDORA
Jeg personligt mener at en stor del af skribenterne her på forum og markedet som helhed overreagerer..
17
16 mai
PNDORA
Pandora dykkede fordi der manglede 60 millioner i omsætning ud af 1.500 millioner. Det er jo helt gr..
16
21 mai
PNDORA
Sludder Michael. At Pandora kom med et mindre heldigt regnskab berettiger slet slet ikke det massiv..
15
19 mai
PNDORA
Pandora realiserede i Q1 2018 en omsætning, som var 44 mDKK lavere end 1Q 2017, såfremt valutakurser..
15
08:48
 
Som formentlig en del andre har jeg i løbet af 2018 læst en del om en snarlig nedtur i aktier. Og j..
14
21 mai
PNDORA
Fedt at bruge Dominick Beskos, han har om noget haft evner til at forudsige markedet. Man kan sige, ..
14
17 mai
NOVO-B
Trump fik fortalt at PBM'ernes rabatsystem er taget for fremskaffelse af lavere priser til patienter..
14
19 mai
PNDORA
Når nu det kan være så svært, at tolke shortere, og andre på markedet, så kan det være en god ide, a..
13

Actualité la plus lue

  • 24 heures
  • 48 heures
  • 1 semaine
1
Sanofi : Le New England Journal of Medicine publie les résultats positifs de deux essais cliniques de phase III montrant que Dupixent® (dupilumab) améliore l'asthme modéré à sévère
2
Atos et le CEA lancent une chaire industrielle sur l'informatique quantique, avec le soutien de l'ANR
3
CREDIT AGRICOLE SA : INFORMATION
4
CRCAM Brie Picardie - déclaration hebdomadaire - Rachats réalisés dans les conditions de l'article 5 du Règlement MAR
5
Neoditel annonce un chiffre d'affaires proche de 2,2 millions d'euros pour l'exercice 2017

Buy and sell signals

  • Tendance
  • Moneymachine
Vendre
Acheter
Acheter
Acheter
Acheter

Droit d'auteur Euroinvestor A/S 2018   Mentions légales et conditions d'utilisation
Information sur les cours fournies par Morningstar.
Les données sont différées de 15 à 20 minutes selon les accords avec les différentes bourses internationales.
 
mardi 22 mai 2018 17:54:04
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20180515.2 - EUROWEB7 - 2018-05-22 17:54:04 - 2018-05-22 17:54:04 - 4 - Website: OKAY