Hyundai E&C shareholders sign MOU with Hyundai Group


SEOUL, Nov 29 (Reuters) - Shareholders of Hyundai Engineering & Construction Co Ltd have signed a memorandum of understanding to sell a controlling stake to preferred bidder Hyundai Group, a major shareholder said on Monday.

Korea Exchange Bank said in a statement that it had reviewed a clarification report from Hyundai Group about its funding plans for the 35 percent stake, which involves a 1.2 trillion won ($1.04 billion) loan from French investment bank Natixis SA .

Shares in Hyundai E&C were down 2.24 percent as of 0444 GMT. (Reporting by Ju-min Park and Jungyoun Park; Editing by Chris Lewis)



Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×