The proposed merger of Korean Air and Asiana Airlines has some interesting sub-plots to it.
One is the relative buoyancy of domestic M&A at a time when cross-border deals are still logistically almost impossible. Another is the enduring power of Korea Development Bank (KDB) as a powerbroker. A third: Credit Suisse’s ability to hang on to a South Korean mandate even when a deal appears stricken.
A year ago, Euromoney reported on the proposed sale of Asiana by Kumho Industrial, its largest shareholder, to a consortium led by Hyundai Development Company (HDC).
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