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South Korea's Sono Hospitality becomes controlling shareholder of T'way Air

( February 27, 2025, 03:37 GMT | Official Statement) -- MLex Summary: South Korea's resort giant Sono Hospitality Group has taken control of budget airline T'way Air by acquiring the entire T'way Holdings stake held by YeaRimDang Publishing and its related parties for 250 billion won (about $173.6 million). According to a regulatory filing, Sono International will acquire a 46.26 percent stake in T'way Holdings from YeaRimDang and three individual shareholders, with the transfer to be completed by March 31. The acquisition gives Sono Hospitality indirect control of T'way Holdings' 28.02 percent stake in T'way Air, which, combined with their existing direct 26.77 percent stake in the airline, brings their total effective ownership of T'way Air to 54.79 percent. The deal requires approval from the Korea Fair Trade Commission, as Sono Hospitality is already the second-largest shareholder in Air Premia.The regulatory filing by T'way Holdings, in Korean, follows:...

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