Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding holding company of Hyundai Heavy Industries Group, has revised its contract with Korea Development Bank (KDB) to extend the deadline for its acquisition of Daewoo Shipbuilding & Marine Engineering (DSME). The extension was inevitable d
Mahindra & Mahindra, HAAH Automotive Holdings and the Korea Development Bank (KDB) are failing to reach an agreement on whether Mahindra & Mahindra has to remain in SsangYong Motor as a shareholder. HAAH is a potential SsangYong acquirer and the KDB is the main creditor bank to SsangYong.The four si
Korea Development Bank (KDB) and Mahindra & Mahindra of India are at loggerheads over financial support for SsangYong Motor, which applied for a corporate rehabilitation process at the end of 2020.The court has allowed SsangYong Motor to undertake autonomous restructuring support (ARS) efforts until
Mahindra & Mahindra applied for SsangYong Motor’s rehabilitation on Dec. 21. This sudden application is interpreted as brinkmanship based on the assumption that the Moon Jae-in administration, whose top priorities include stable employment, will not let more than 5,000 unionized workers walk out to
The author is an analyst of NH Investment & Securities. He can be reached at jinmyung.choi@nhqv.com. -- Ed. Valuations are improving in all of HHI Holdings’ business areas. The firm’s earnings have been better than feared in 2020, and earnings visibility has improved for 2021. We also advise paying
Hyundai Heavy Industries Group (HHIG) has been selected as the preferred bidder to acquire Doosan Infracore. Once the acquisition process is completed, the group's affiliate Hyundai Construction Equipment, combined with Doosan Infracore, will become the No. 5 player in the global construction ma
Conflicts over a Korean Air-Asiana Airlines merger are continuing between Hanjin Group teaming up with the Korea Development Bank (KDB) and the alliance of activist private equity fund KCGI, former Korean Air vice president Cho Hyun-ah and Bando Engineering & Construction. The two sides are issuing
State-run Korea Development Bank (KDB) has tied a noose around the neck of Hanjin KAL, the holding company of Hanjin Group, in return for investing 800 billion won in it to facilitate Korean Air’s acquisition of Asiana Airlines.KDB signed an investment agreement worth 800 billion won with Hanjin KAL
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com. -- Ed. With KAL’s decision to take over Asiana now official, the air transportation industry’s competitive landscape is beginning to reshape. From a mid/long-term perspective, competitive intensity is expe
Korean Air will acquire Asiana Airlines to create the world's 10th largest airline, Hanjin Group announced on Nov. 16.The deal between Korea's two top airlines will restructure the Korean aviation market amid an unprecedented crisis in the global aviation industry due to COVID-19.Korean Air
Korean Air is reportedly considering acquiring Asiana Airlines. Hanjin Group, the parent of Korean Air, is negotiating with Korea Development Bank (KDB), the main creditor of Asiana Airlines, to acquire the struggling airline.Industry insiders offer the scenario of KDB providing funds to Hanjin KAL,
Medium-sized shipbuilders under creditor-led restructuring processes are put up for sale. They include Hanjin Heavy Industries & Construction, STX Offshore & Shipbuilding and Dae Sun Shipbuilding and Engineering. However, it remains to be seen whether these shipbuilders can be sold within the year i
Hyundai Heavy Industries Group is seeking to acquire Doosan Infracore, the construction machinery-making unit of Doosan Group, to become a major player in the global construction equipment market.Hyundai Heavy Industries Holdings Co. (HHIH), the shipbuilding group’s holding company, submitted a bid
Creditors of Asiana Airlines declared on Sept. 11 that Kumho Industrial’s contract with HDC Hyundai Development to sell the struggling airline has been canceled.Korea Development Bank (KDB), the main creditor of Asiana Airlines, said in a briefing that the government will immediately inject 2.4 tril
The Korea Development Bank announced on Sept. 8 that it took over Tifa Finance in Indonesia in accordance with the agreement it signed with DSU Group in December last year to acquire 80.65 percent of the shares. Both sides successfully completed the procedure after eight months of coordination altho
HDC Hyundai Development Co.’s planned acquisition of Asiana Airlines has fallen through as the preferred bidder refused to accept creditors’ latest offer to cut the sale price.Korea Development Bank (KDB), the carrier’s main creditor, said the deal has collapsed. “We believe HDC has no intention of
Korea Development Bank Chairman Lee Dong-gull and HDC Hyundai Development Company chairman Chung Mong-gyu met with each other on Aug. 26 to resume the sale of Asiana Airlines.According to industry sources, the bank offered an acquisition price of 1.5 trillion won, including old share purchase and pa
Daewoo Engineering & Construction (Daewoo E&C) has sharpened its global competitiveness by building a drone-based space information system for jungles in Indonesia and the Philippines as well as construction sites for large industrial complexes.Developed by Daewoo E&C, the DW-CDS drone control syste
Kumho Engineering and Construction CEO Seo Jae-hwan and HDC Hyundai Development Company CEO Kwon Soon-ho met with each other and discussed the sale of Asiana Airlines on Aug. 20.Early this month, HDC proposed the CEO meeting for continuous discussions after Kumho and its creditors notified it of pot
SsangYong Motor is being driven towards court receivership again 11 years after Shanghai Automotive Industry Corp. gave up its management in 2009. The ailing automaker can avoid the worst-case scenario of filing for court receivership if it attracts a new investor, but no companies are willing to in