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Hyundai Motor executives to sell $1.25 billion stake in logistics affiliate: source

2015-01-12 13:37:04| Automakers - Topix.net

Hyundai Motor Co's chairman and vice chairman are seeking to raise about $1.25 billion by selling shares of Hyundai Glovis, a person familiar with the matter said, a move that could smooth succession in the family-owned conglomerate. The sale could help vice chairman and heir apparent Chung Eui-sun buy stakes in key units such as Hyundai Motor, Kia Motors Corp and Hyundai Mobis Co Ltd, without subjecting Hyundai Glovis to antitrust regulations governing inter-affiliate transactions, company watchers said.

Tags: source sell motor affiliate

Category:Automotive

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