Kumho Group has announced a preferred bidder for its controlling stake in debt-ridden Asiana Airlines.<br />It's a consortium led by Hyundai Development Company, which reportedly bid around 2 billion dollars for Kumho's 31 percent stake in the carrier, beating out rivals, which included a consortium led by local cosmetics firm Aekyung Industry.<br />Following the announcement,... HDC Chairman Chung Mong-gyu told reporters that he hopes the possible takeover would help the company become a mobility giant.<br />If the takeover happens, HDC will jump into the top 20 conglomerates in South Korea.<br />The HDC consortium has already passed the transport ministry's screening process and is set to begin talks with Kumho.<br />Asiana recorded a loss of around a quarter billion dollars in the first half of the year ... and its debts amounted to more than 8 billion dollars.<br />
