GE to sell Hyundai Capital stake to Hyundai Motor Group, Fubon: report

December 9, 2015 12:05 AM

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GE to sell Hyundai Capital stake to Hyundai Motor Group, Fubon: report

SEOUL General Electric Co (GE.N) will sell a 43 percent stake in unlisted Hyundai Capital to Hyundai Motor Group and Taiwan's Fubon Group for up to 1.4 trillion won ($1.19 billion), the Korea Economic Daily reported on Wednesday, citing unnamed sources.

A unit of GE Capital International Holdings Corp, part of GE, currently owns 43.3 percent of auto loan firm Hyundai Capital. GE plans to sell a 23 percent stake to Hyundai Motor Group and a 20 percent stake to Fubon Group, the Korea Economic Daily said.

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