Deals
Hyundai Motor Signs Agreement to Buy Control of Hyundai E&C
This article is for subscribers only.
Hyundai Motor Group signed a preliminary agreement to buy a controlling stake in South Korea’s biggest builder as Chairman Chung Mong Koo seeks to run what was his father’s flagship company.
The automaker will begin due diligence on the Hyundai Engineering & Construction Co. deal next week, Korea Exchange Bank, one of the investors selling shares, said today in an e-mailed statement. The shareholders have said they plan to complete the deal by April.