[Alpha Biz=(Chicago) Reporter Kim Jisun] The sale of Asiana Airlines' cargo plane division has also begun in earnest as the screening of the business combination between Korean Air and Asiana Airlines has crossed the European gateway.

According to the investment banking (IB) industry on the 19th, UBS, the organizer of the sale of Asiana Airlines' cargo plane division, recently distributed investment manuals (IM) to potential acquisition candidates. Potential acquisition candidates are required to submit a bid proposal, including a funding plan and a business plan, by 14 p.m. on Feb. 28. After that, each buyer plans to select a short list (final acquisition candidate group) among the acquisition candidates and proceed with the main bid.

Korean Air, the main body of the sale, plans to select a buyer for its cargo plane division by October this year and complete measures just before the sale, including a review by the EU.

Jeju Air, Eastar Jet (VIG Partners), Air Premia (JC Partners) and Air Incheon (Sociers) are mentioned as potential candidates for the acquisition of the cargo aircraft business. The nation's second-largest Asiana cargo unit operates 11 cargo planes, with cumulative sales reaching 1.1354 trillion won by the third quarter of last year. The industry's estimated selling price is between 500 billion won and 700 billion won.

 

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