Daemyung Sono Group: Close to Acquiring the Controlling Stake in T'Way Air
After the market close on 17 February, it was announced that the Daemyung Sono Group is close to acquiring the controlling stake in T'Way Air (091810 KS) from Yelimdang.
As the negotiations between the two sides have come to a near agreement, Daemyung Sono is expected to be able to appoint nine directors at the next upcoming AGM.
Typically in cases like this in Korea, the near term impact would be decline in share prices of T'Way Air and T'Way Holdings due to lack of an M&A play.
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