Jeju Air Subsidiary Pacific No.3 Extends Hotel Business Transfer Deadline to September 2026
The expected closing date for the transfer of hotel business assets and contracts by Pacific Real Estate Investment LLC for General Private Placement No.3 at 54 billion KRW has been extended from June 30, 2026 to September 30, 2026.
The buyer is affiliated company Mapo Aekyung Town Co., Ltd., and the purpose remains operational efficiency and restructuring to secure cash liquidity.
The transfer price and other terms are unchanged; this amendment is purely a schedule adjustment by mutual agreement, with limited impact on shareholder value.
The subsidiary's total assets are approximately 62.7 billion KRW, equivalent to 2.67% of the parent's consolidated assets, and the transaction requires notification to the Fair Trade Commission.
[AI Summary]Jeju Air's subsidiary hotel business transfer proceeds without changes to terms, only a three-month delay in closing. As a small intra-group transaction, the stock price impact is negligible, and the liquidity enhancement purpose remains intact.
KOSPI Filing Information
[Correction of Description] Decision on Business Transfer (Voluntary Disclosure) (Major Management Matters of Subsidiary)