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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanjin KAL, the holding company of Hanjin Group, made a public announcement on the 8th that it will sell all of its hotel real estate and related assets (excluding cash and cash assets) held by its U.S. subsidiary "Waiki Resort Hotel" to the U.S. AHI-CLG Limited (LLC). The sale amount is 146.586 billion won, and the sale date is the 15th.
Hanjin KAL explained that the purpose of the asset disposal is "to secure funds through the sale of assets."
The Waikiki Resort Hotel, located on Waikiki Beach in Hawaii, is 100% owned by Hanjin Kal. Waikiki Resort Hotel will have a total of $ 121 million in cash and cashable assets (about 161.2 billion won) due to the sale of its assets.
Hanjin KAL is seeking to secure liquidity by selling the "KAL Building" in Seosomun-dong, Jung-gu, Seoul, to its subsidiary Korean Air for about 264.2 billion won last month.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
