Lee & Ko successfully advised Jeju Air Co., Ltd.in its acquisition of Eastar Jet Co., Ltd., in which the parties entered into a Share Purchase Agreement on March 2, 2020. This deal is the first M&A deal between air carriers in Korea, and the deal structure is quite complicated as it involved many issues such as purchase of issued and outstanding shares and issuance of convertible bond. Lee & Ko successfully represented the Client in the connection with the execution of Share Purchase Agreement, and will continue to serve as a transaction counsel and provide comprehensive legal advice to Client until the deal is completed.
[REUTERS] South Korea's Jeju Air to buy 51% stake in Eastar Jet for $59 million