Aramco has the option to buy an additional 2.9 per cent stake in Hyundai Oilbank.
The company said in a regulatory filing that its board had approved the stake sale plan, aimed at securing liquidity and improving its financial structure.
Kakao Corp’s unit proposed launching the car-sharing service last year, but was not able to start it amid fierce protests.
The transportation unit of Kakao Corp also said it has decided to halt trials of the car-sharing service.
Schwan’s, owner of brands such as Red Baron, Freschetta, MaMa Rosa’s and Tony’s pizza, has an annual revenue of $3 billion.
The group had previously pledged $35.20 billion through 2021 after Chairman Shin Dong-bin apologized for a corruption probe involving his family.
The conglomerate is expanding into new segments as its core semiconductor and smartphone businesses show signs of weakness.
LG Chem said it would raise a total of 239.4 billion won ($224.8 million) by 2020.
The deal would make L’Oreal the latest foreign investor to bet on continued demand for Korean beauty products in Asian markets such as China, backed by the popularity of Korean pop culture.
Kakao could spend more than 70 percent of the money raised from GDRs on M&A and acquire companies this year and in early 2019.