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GE Trying To Sell Remaining Stake In Hyundai Capital

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GE Trying To Sell Remaining Stake In Hyundai Capital

General Electric Company (NYSE: GE) is trying to sell its remaining 20 percent stake in Hyundai Capital, Reuters reported, citing Hyundai Motor Co. (HYUNDAI MOTOR CO KRW5000 (OTC: HYMLF))

Related Link: General Electric Shines In Weak Market

While Reuters said the South Korean car did not offer any details, the report noted that Hyundai Motor and affiliate Kia Motors late last year agreed to buy a 23.3 percent stake in Hyundai Capital from GE for 703 billion won ($610.15 million). "Hyundai said at the time it could buy the remaining 20 percent GE has in Hyundai Capital in the future," the report read.

Currently, roughly 80 percent of Hyundai Capital is owned by Hyundai and Kia.

At the time of writing, shares of GE were up 0.37 percent to $30.94.

 

Related Articles (GE + HYMLF)

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Posted-In: Hyundai Hyundai Capital Hyundai Motor Co Kia MotorsNews Asset Sales Media Trading Ideas

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