Deals
Korea Aerospace Stake Sale Fails as Only Korean Air Bids
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Korea Aerospace Industries Ltd. shareholders’ plan to sell a 1.05 trillion won ($925 million) stake in the country’s only planemaker failed because of a shortage of offers.
Korean Air Lines Co. was the only bidder to register by the 3 p.m. deadline today, Korea Finance Corp. said in a statement. The shareholders will decide whether to hold another round of bidding after further discussions, it said without elaboration. At least two bids are needed because of rules governing sales by government entities.