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KOREAN AIR'S BID FOR KAI FACES ROUGH SAILING.
SEOUL, Feb 2 Asia Pulse - Korean Air's (KSE:003490) attempt to take over Korea Aerospace Industries (KAI), the nation's sole aircraft producer, hit a snag due to difficulties in negotiations with one of KAI's top shareholders, industry insiders said Monday.
The national flag carrier signed a memorandum of understanding (MOU) with Daewoo Heavy Industries and Machinery Ltd. (KSE:042670) in late August to acquire Daewoo's 28.1-percent stake in KAI for between 102 billion won (US$87.1 million) and 129.8 billion won.
The two sides, however, have not yet concluded a formal contract due to disagreement over the takeover price, and the MOU expired more than three months ago.
Sources say Korean Air wants to pay less than 129.8 billion won, the face-value of the 28.1-percent stake, while Daewoo demands the nominal value.
The insiders said the airline may not actively seek to acquire the firm ...
- Korean Air to Buy Daewoo Heavy Industries' Stake in KAI.
- News wire article from: YON - Yonhap News Agency of Korea August 27, 2003 700+ words
...27 (Yonhap) -- Korean Air Co. announced Wednesday...Industries (KAI) held by Daewoo Heavy Industries and Machinery...buyup takes place, Korean Air, or KAL, is expected...maintenance services for South Korean Air Force as well as U...
- DAEWOO HEAVY, KOREAN AIR TO RESUME TALKS ON SALE OF KAI STAKE.
- News wire article from: AsiaPulse News April 12, 2004 700+ words
...president and CEO of Daewoo Heavy, said the company and Korean Air would reopen negotiations...April 15 elections." Daewoo Heavy and Korean Air signed a memorandum...previous talks between Daewoo Heavy and Korean Air fell through after...
- Daewoo Heavy, Korean Air to Resume Talks on Sale of KAI Stake.
- News wire article from: YON - Yonhap News Agency of Korea April 9, 2004 700+ words
...president and CEO of Daewoo Heavy, said the company and Korean Air would reopen negotiations...April 15 elections." Daewoo Heavy and Korean Air signed a memorandum...previous talks between Daewoo Heavy and Korean Air fell through after...
- Korean Air to Acquire Stake in KAI from Daewoo Heavy Industries.
- News wire article from: YON - Yonhap News Agency of Korea October 7, 2003 700+ words
...Co., will allow Korean Air to buy the entire...common shares from Daewoo Heavy Industries and Machinery Co. Korean Air will also be permitted...stake purchase. Korean Air said it plans to...formal contract with Daewoo Heavy Industries and Machinery...
- KOREAN AIR TO ACQUIRE STAKE IN KAI FROM DAEWOO HEAVY INDUSTRIES.
- News wire article from: AsiaPulse News October 7, 2003 700+ words
...Co., will allow Korean Air to buy the entire...common shares from Daewoo Heavy Industries and Machinery Co. Korean Air will also be permitted...stake purchase. Korean Air said it plans to...formal contract with Daewoo Heavy Industries and Machinery...
- (2nd LD) Doosan Heavy Picked as Preferred Bidder for Daewoo Heavy.
- News wire article from: YON - Yonhap News Agency of Korea October 27, 2004 700+ words
...Construction Co. as the preferred bidder for Daewoo Heavy Industries & Machinery Ltd. Wednesday...a controlling 58-percent stake in Daewoo Heavy, the country's largest manufacturer of defense and construction equipment. Daewoo Heavy was separated from Daewoo Heavy ...
- Eight Final Bidders to Compete for Daewoo Heavy Stake.
- News wire article from: YON - Yonhap News Agency of Korea September 14, 2004 700+ words
...final bids for a controlling stake in Daewoo Heavy Industries & Machinery Ltd. Tuesday...Pantech-led consortium, which includes Daewoo Heavy workers, expressed interest in the...Design Limit submitted final bids for Daewoo Heavy's defense unit, while foreign investors...
- CORR- SEVEN FINAL BIDDERS TO COMPETE FOR STAKE IN DAEWOO HEAVY.
- News wire article from: AsiaPulse News September 14, 2004 700+ words
...final bids for a controlling stake in Daewoo Heavy Industries & Machinery Ltd...Pantech-led consortium, which includes Daewoo Heavy workers, expressed interest in the...Design Limit submitted final bids for Daewoo Heavy's defense unit, while foreign investors...