How do you feel right now from HDC, which has given up on its acquisition of Asiana?

How will HDC Hyundai Industrial Development react to the news that Korean Air will become the new owner of Asiana Airlines?

There is still no special reaction.

However, some members of the business community expect HDC prefecture would be surprised by the news of the resale of Asiana Airlines ahead of schedule.

Furthermore, there is the prospect that it will be compelling to pay attention to success or failure in the future.

The prefecture of HDC must immediately respond to a lawsuit for the confiscation of a 250 billion won deposit filed by Asiana Airlines and Kumho Industrial.

On the 16th, an official from the business community diagnosed: “There will be nothing publicly said about this agreement from the Prefecture of HDC”, but “It appears that Asiana Airlines, which has given up after pursuing the acquisition, will continue to be interested in which path to take in the future “.

HDC Hyunsan acquired Asiana Airlines in December last year by participating in a paid capital increase of 2.1772 trillion won ordinary shares (new shares) issued by Asiana Airlines and by acquiring Asiana Airlines shares (old shares) held by Kumho Industries for 3228 billion won. · It is decided to merge (M&A).

At this time, HDC Prefecture has paid a total of 250 billion won, of which 2177 billion won and 32.3 billion won, respectively, to Asiana Airlines and Kumho Industrial.

Since then, it has accelerated the acquisition process by going through procedures for approving business combinations at home and abroad and sending a due diligence team to Asiana Airlines.

But this speed was slowed down in February.

As the aviation industry was directly affected by the Corona 19 crash and the management of Asiana Airlines also suffered difficulties, it suddenly turned into a passive attitude.

Because HDC Hyunsan did not complete the acquisition despite repeated acquisition requests from Kumho, Asiana and Saneun, a pre-acquisition period of nearly a year prior to the acquisition was printed in September with a “no deal”.

The business world also predicted that it would be difficult for Asiana Airlines to find a new owner due to the prolonged COVID-19 outbreak.

However, the mood changed dramatically as Hanjin Group, which owns Korean Air, the number one airline, took over.

An industry insider said, “HDC Prefectural Corporation would put an end to the Asiana acquisition through profit and loss analysis, etc.,” he said. .

The official adds: “The abandonment of the Asiana acquisition has not only lost the confidence of the government and the market, but it is also inevitable that Asiana’s success has caused damage to the company through false judgments.”

Right now, HDC Prefecture should focus on the 250 billion won down payment lawsuit filed by Kumho Industries and Asiana Airlines.

On the 5th of this month, Asiana Airlines and Kumho Industrial filed a lawsuit against HDC Prefecture to confiscate the advances against the Seoul Central District Court.

This is a request for cancellation of the pledge so that the amount of the contract bound by the pledging (collateral) of 250 billion won can be used freely, and if the HDC Prefecture loses, all the deposit will be lost.

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