SEOUL, Aug. 25 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Tuesday it has signed a deal to sell its in-flight catering and duty-free business to a local private equity fund, as it strives to secure capital amid the new coronavirus crisis. Korean Air held a board meeting to approve the [...]
SEOUL, July 7 (Korea Bizwire) — Korean Air Lines Co., the country’s biggest carrier, said Tuesday it will sell its in-flight catering and duty-free business to a private equity fund amid the growing impact of the coronavirus on the airline industry. Korean Air’s board of directors signed a memorandum of understanding with Hahn & Company [...]
SEOUL, June 1 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Monday it has sold a service center to secure capital amid a liquidity crunch worsened by the new coronavirus. SsangYong Motor sold a local after-sales service center in Guro, Seoul, for 180 billion won [...]
SEOUL, May 25 (Korea Bizwire) — Heavy machinery and power equipment-focused Doosan Group is seeking to ease its severe credit squeeze stemming from its flagship Doosan Heavy Industries & Construction Co. by coming up with a self-rescue plan that centers on sales of assets. The country’s 15th-largest conglomerate said late last month that it will [...]
SEOUL, May 24 (Korea Bizwire) — Lotte Shopping Co., the operator of South Korea’s biggest department store chain, said Sunday it will sell 121 brick-and-mortar stores within this year amid the new coronavirus impact on the retail industry. Lotte Shopping runs about 700 department stores, large discount stores, supermarkets and LOHB’s online shopping mall’s offline [...]
SEOUL, Feb. 13 (Korea Bizwire) — Lotte Shopping Co., the operator of South Korea’s biggest department store chain, said Thursday it will sell assets after posting a loss for 2019, while the country’s largest discount store chain operator, Emart Inc., reported weaker than expected earnings as well. Lotte Shopping will sell 200, or 30 percent, [...]
SEOUL, Feb. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest airline and national flag carrier, said Thursday it will sell property and non-core assets to improve its financial status. Korean Air plans to sell its idle property in central Seoul and a non-core business unit to emerge as a financially healthy company [...]
SEOUL, Aug. 14 (Korea Bizwire) — E-Mart Inc. has decided to buy back shares worth some 100 billion won (US$82 million) and securitize its assets through sale and leaseback arrangements. “At the current stage, we have to save up our capability, and use that capability when there is an opportunity,” said Shinsegae Group Vice Chairman [...]
SEOUL, Aug. 13 (Korea Bizwire) — E-Mart Inc. said Tuesday that it plans to raise 1 trillion won (US$820 million) by selling assets as the country’s top retailer is struggling with falling profitability amid increased competition with e-commerce giants here. The company said it plans to securitize its outlets worth 1 trillion won by the [...]
DENVER, Jul. 17 (Korea Bizwire) — Sundance Energy Australia Limited (ASX: SEA) (NASDAQ: SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today announced that it had entered into a definitive agreement to sell its assets in Dimmit County, TX (the [...]