POST Online Media Lite Edition


Kia Motors, Hyundai Motor to buy $600m stake in Hyundai Capital from GE

Staff writer |
Hyundai Motor and Kia Motors will buy a 23.3 percent stake in auto financing affiliate Hyundai Capital from General Electric for 703 billion won ($600.8 million).

Article continues below

Hyundai Motor, South Korea's biggest automaker, plans to acquire a 3.2 percent stake worth 96 billion won, while second-placed Kia Motors would buy a 20.1 percent stake worth 607 billion won, the two companies said in public filings.

Hyundai Motor also said it could buy the remaining 20 percent stake GE has in Hyundai Capital in the future.

What to read next

Hyundai, Kia set 2015 auto sales target at 8.2 million
Hyundai, Kia target sales rebound with emerging markets stabilizing
General Electric to sell 43% stake in Hyundai Card Co.