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Korean Air has finalized its acquisition of Asiana Airlines, marking a significant development in the aviation industry. The decision, first announced on November 16, 2020, was completed with Korean Air acquiring 131,578,947 newly issued shares of Asiana Airlines. This transaction represents a 63.88% ownership stake and officially makes Asiana Airlines a subsidiary of Korean Air.
The acquisition was concluded following a payment of KRW 800 billion to Asiana Airlines on December 11. The total investment for this acquisition amounts to KRW 1.5 trillion, which includes a previously paid deposit of KRW 300 billion and an interim payment of KRW 400 billion.
As part of the transition process, Asiana Airlines will hold an extraordinary general meeting of shareholders on January 16 to appoint new board directors nominated by Korean Air.
