The creditors of Kumho Asiana may sell Kumho Industrial after the construction company normalises its operations, reported Money Today.
Kumho Industrial is the listed South Korean construction unit of Kumho Asiana, the Korean conglomerate which is now under a debt workout plan.
The report cited an unspecified senior person at the creditors group as saying the group has no plans to return the management rights of Kumho Industrial to its former owner.
The report cited another unnamed source at the creditor group as saying a company sale would be the most predictable option for creditors after completion of the debt restructuring and rehabilitation process of Kumho Industrial.
It was earlier reported that creditors, including Korea Development Bank, had agreed on a debt restructuring of the Kumho Asiana group.
The original Money Today article can be found here.
See here for more stories on Kumho Asiana’s restructuring.
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