[Featured Stock] Management Dispute Resolved... T'way Related Stocks Fall Around 7%

The stock price, which had heated up due to a management rights dispute as T'way Air was acquired by Daemyung Sono Group, a hotel and resort company, is cooling down.

As of 9:45 a.m. on the 28th, Daemyung Sono Season's stock price recorded 1,001 KRW, down 7.5% from the previous day. T'way Holdings' stock price also fell 7.5% to 725 KRW at the same time. T'way Air's stock price dropped 4.5% as well.

Following the news that Daemyung Sono Group's acquisition of T'way Air has been finalized, the stock prices that had surged are calming down. According to Daemyung Sono Group, Sono International signed a stock purchase agreement to acquire all shares of T'way Holdings held by Yerimdang and the Yeramdang owner family, the largest shareholders of T'way Air.

The subject of the purchase agreement is a total of 52.34 million shares of T'way Holdings (46.26% stake). The acquisition price per share was 4,776 KRW, resulting in a transaction worth approximately 250 billion KRW.

Daemyung Sono Group plans to work on synergy between T'way Air and its existing hotels and resorts, while also pursuing the acquisition of Air Premia to launch a new airline combined with T'way Air.