Kumho-Asiana leads race for Korea Express

The Korean conglomerate wins a hotly contested auction to emerge as the preferred bidder for a controlling stake in the local logistics company.

Kumho-Asiana Group was yesterday selected as the preferred bidder for a controlling stake in Korea Express, the country's largest logistics company. The consideration has not been disclosed but it is estimated that Kumho has valued the 60% stake at about W4 trillion $4.2 billion.

Kumho-Asiana, KoreaƆs seventh-largest conglomerate with assets of W22.8 trillion, out-bid a number of competing bidders for what is one of the most attractive assets to come up for sale in Korea. Hanjin Group, LS Cable,...

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