Boards of Hyundai Motor affiliates approve signing of $10 billion land deal
Reuters
Published Sep 26, 2014 12:59AM ET
Boards of Hyundai Motor affiliates approve signing of $10 billion land deal
SEOUL (Reuters) - The boards of Hyundai Motor Co (KS:005380) and two affiliates on Friday approved the signing of their 10.55 trillion won ($10.12 billion) deal to buy a plot of land in Seoul valued at about a third of that amount, the companies said.
Hyundai Motor will pay 55 percent of the price, followed by Hyundai Mobis Co Ltd (KS:012330) with 25 percent and Kia Motors Corp (KS:000270) with 20 percent, they said.
(Reporting by Hyunjoo Jin; Editing by Jeremy Laurence)
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