The Australian Competition and Consumer Commission (ACCC) has granted unconditional clearance to the proposed merger between Korean Air and Asiana Airlines. Under the deal, Korean Air, advised by Gilbert + Tobin (G+T), will acquire a majority interest in Asiana which is worth about $1.6bn. Elizabeth Avery, G+T’s lead partner on the deal and its head of competition and regulation, said: “The airline industry has experienced significant disruption in the past few years. We are delighted to have worked together with Korean Air to achieve such a fantastic result, enabling Korean Air and Asiana to continue to provide a competitive offering
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