Hyundai’s Hyun Beats Brother-in-Law to Bid on Builder

Hyun Jeong Eun’s Hyundai Group was named preferred bidder for South Korea’s largest construction company, beating out a rival offer from her billionaire brother-in-law’s automaking group.

The winner offered about 5.5 trillion won ($4.9 billion) for the Hyundai Engineering & Construction Co. stake, according to two people familiar with the situation. That’s more than double the market price. Hyundai Group declined to say how much it offered in an e-mailed response to Bloomberg questions. Korea Exchange Bank named the group as the preferred bidder today.