SEOUL, Nov 7 (Reuters) - A consortium led by South Korean retail-to-airline group Aekyung submitted a formal bid for a controlling stake in Asiana Airlines Inc, the country’s No. 2 carrier, on Thursday, Aekyung said on Thursday.
The 31.05% stake, worth about 382 billion won ($329.15 million) at current prices, has been put up for sale by top shareholder Kumho Industrial Co Ltd, which has been under pressure from its creditors to reduce debt.
Aekyung also has a stake in the country’s largest budget carrier Jeju Air.
Kumho Industrial in April hired Credit Suisse to manage the sale of its stake in Asiana Airlines. ($1 = 1,160.5800 won) (Reporting by Heekyong Yang; Editing by Hyunjoo Jin and Muralikumar Anantharaman)
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