Hanjin Kal. (photo = Yonhap news)

 

[Alpha Biz= Reporter Paul Lee] Hanjin KAL, the holding company of Hanjin Group, announced on the 18th that it will push for the sale of the Waikiki Resort Hotel, a US subsidiary that failed last year.

Hanjin KAL announced that it will sell its entire stake in the Waikiki Resort Hotel for 140.668 billion won by the board's resolution.

The signing of a stock trading agreement (SPA) has not yet been made. Hanjin KAL did not disclose its counterpart. The purpose of disposal is to 'secure funds through the sale of shares'.

Hanjin KAL also held a board meeting in September last year and announced a plan to sell the resort to U.S. real estate investment firm AHI-CLGLLC. The sale price was KRW 146.6 billion, but the two sides did not agree on the terms of the deal in the process. Hanjin KAL withdrew its decision to sell in November last year.

 

 

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