Creditors of Kumho Industrial are planning to have the company resume the stake sale in Seoul Express Bus Terminal, reported Money Today.
Seoul Express Bus Terminal is the unlisted bus terminal operator in which Kumho Industrial, the construction unit of Kumho Asiana, has a 38.75% stake.
The report cited an unspecified insider at the creditors group as saying the creditors group decided on the matter on 10 May and now is discussing the sale method.
The report noted that the creditors are considering selling the stake jointly with other shareholders to improve the sale value.
Hanjin and Dongbu Express hold a 16.67% and 11.11% in Seoul Express Bus Terminal, respectively, the report noted.
Earlier the sale was once canceled as the bidder failed to settle payment. The offer of the potential buyer was reportedly at KRW 270bn (USD 239m).
(Source: Money Today)
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