Andrzej Jeziorski/SINGAPORE
A Boeing/BAE Systems consortium seems set to win a 30% stake in Korean Aerospace Industries (KAI) in the absence of a bid from a teaming of Lockheed Martin and Aerospatiale Matra. South Korean press reports suggest the Franco-US offer failed to materialise after it was vetoed by DaimlerChrysler (Dasa), with which Aerospatiale Matra is merging to form EADS (European Aeronautic Defense and Space).
Sources close to the bidding say Lockheed/Aerospatiale requested a two-week extension beyond a 21 April deadline. This appears not to have been granted and it remains unclear whether South Korea will relent. Boeing/BAE had previously had a similar request refused, say Seoul industry sources.
Local press reports say Dasa insisted that any strategic partnership tying EADS to another company should be approved by all partners, and that approval of the deal with KAI - which merges parts of the aerospace arms of Daewoo, Hyundai and Samsung - was not forthcoming.
Dasa's office in South Korea, and KAI general manager Alex Jun, will not comment on the bidding. Jun says the evaluation process will take "as long as it takes".
The Franco-US partnership was favourite to land KAI due to Lockheed Martin's relationship with Samsung on the T/A-50 advanced trainer/light fighter programme. Samsung also manufactures F-16s under licence.
Source: Flight International
