General Electric To Sell Its Stake In Hyundai Capital Services To Hyundai Motor, Kia Motors

As part of a broad strategy of divesting most of its financial-related assets, General Electric Company GE announced it has reached an agreement to sell a 23.3 percent stake of Hyundai Capital Services to Hyundai Motor Company and Kia Motors.

General Electric noted in a press release that this is part of a broader deal to exit its entire 43.3 percent ownership stake in Hyundai Capital Services over the coming months.

The 11-year venture between Hyundai and General Electric Capital will soon come to an end as General Electric continues to focus on its high-value industrial businesses while divesting non-core assets and operations.

Shares of General Electric ticked just slightly down in Tuesday's pre-market session.