Hyundai Motor and Kia Motors will buy a 23.3 percent stake in auto financing affiliate Hyundai Capital from General Electric for 703 billion won ($600.8 million), the automakers said on Tuesday.
Hyundai Motor, South Korea’s biggest automaker, plans to acquire a 3.2 percent stake worth 96 billion won, while second-placed Kia Motors would buy a 20.1 percent stake worth 607 billion won, the two companies said in public filings.
