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Following the development of the subsidiary Wangsan Leisure, Kalimujin was also organized
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(Seoul = Yonhap News) Reporter Choi Pyeong-cheon = Korean Air[003490]The airport bus business managed by this subsidiary is sold to a private equity fund.
According to industry sources on the 30th, Korean Air Aviation Comprehensive Services subsidiary signed an MOU with Keithon Partners, a private equity fund (PEF) manager, to sell the Kalimujin business unit earlier this month.
Korean Air began operating limousines between the airport and the city center in 1992. Currently, more than 60 limos are in operation on routes between Seoul’s major hotels and Gimpo and Incheon airports.
The full service aviation reported an operating loss of 2.4 billion won on sales of 41.3 billion won last year. The number of airport passengers has been reported to have intensified due to the recent coronavirus infection (Corona 19).
The sale is expected to be completed early next year and the sale amount is estimated to be between 20 and 30 billion won.
Keithton Partners has experience acquiring 100% stake in Kumho Express and part of the Seoul Express bus terminal from Kumho Industry in 2012.
Korean Air overcomes the liquidity crisis caused by Corona 19[020560] In order to minimize the impact of the acquisition, it pushes to secure the funds.
On this day, Korean Air selected Kansus and Mirae Asset Daewoo as preferred negotiators for the Wangsan Leisure Development sale.
Wangsan Leisure Development, which is wholly owned by Korean Air, operates Wangsan Marina, a leisure facility on Yeongjong Island, Incheon.
The sale of Wangsan Leisure Development is expected to close in the first quarter of next year and the sale price is 130 billion won.
Korean Air plans to secure another KRW 41.9 billion by selling idle assets such as a house in Yeon-dong, Jeju.
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2020/11/30 18:00 sent
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