Hyundai Heavy says to increase Hyundai Motor stake

Newswire

SEOUL, Oct 25 (Reuters) - Hyundai Heavy Industries Co. plans to buy a 1.5 percent stake in Hyundai Motor Co for 210.7 billion won ($229.7 million), the world's top shipbuilder said on Thursday. Hyundai Heavy said in a filing to the Korea Exchange that the purchase would lift its stake in Hyundai Motor, South Korea's biggest automaker, to 3.46 percent. A Hyundai Heavy official said the company had not decided when and how to buy the stake. ($1=917.4 Won)

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