Sino-German Research Center for Transportation and Logistics

Institut für Seeverkehrswirtschaft und Logistik

Final bids for Korea Express postponed to June

   

 

    Main shareholders of Korea Express have postponed the US$1.4 billion final auction to June after having reached an agreement to sell three wholly-owned units of the country's top logistics company to Kumho Asiana Group separately from the logistics firm.
    The three units of Korea Express are Kumho Terminal, Asiana Airport Development and AAS Airport Service, which were once controlled by Kumho Asiana Group will be sold in a packaged deal to Kumho Asiana. The deadline for the final bid was originally set for May 13 and the selection of the preferred bidder had been scheduled for May 16.

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