Kumho Asiana’s restructuring process should speed up after negotiations between Korea Development Bank (KDB) and holders of put-back options in Daewoo E&C are finalized. According to a report in Money Today, an unidentified insider at KDB was cited as saying that the bank is expecting to receive agreements from the option holders by today...
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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...
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As a summary to previous posts (see here), is the following information taken from Korea’s Financial Services Commission’s ‘Impact of Kumho Asiana Group’s Restructuring and Future Actions‘ press release. In the press release is this diagram of Kumho’s structure - Along with a summary of the measures agreed and settled between the Kumho Asiana Group and...
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Kumho Asiana Group to Sell Daewoo Engineering for $2.5 Billion “The group is devastated,”  Oh Nam-soo, Kumho Asiana’s president for strategic management. After much speculation, and a hectic last few days, Bloomberg’s Bomi Lim and Kyunghee Park report, that Kumho Asiana Group has agreed to sell a controlling stake in Daewoo E&C for KRW...
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KDB, Consus Asset to buy Kumho Life Insurance A report in Korea’s Yonhap News Wednesday, stated that Korea Development Bank (KDB) will take over Kumho Life Insurance Co. in partnership with Korean PE firm – Consus Asset Management Co. Consus Asset Management signed a to deal to buy a 52% stake in Kumho Life Insurance back in...
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