Hyundai Group Completes Restructuring Process by Selling off Financial Units
Hyundai Group Completes Restructuring Process by Selling off Financial Units
  • Korea IT Times
  • 승인 2015.06.17 18:14
  • 댓글 0
이 기사를 공유합니다

Hyundai Group has finally completed its restructuring effort that took 18 months. In the process, the group's chairperson Hyun Jeong-eun is reported to have gained controlling stakes through a series of asset sales.

Given the group has yet to reorganize it with Hyundai Merchant Marine, Hyundai Elevator, and Hyundai Asan as core members, however, the chairperson needs to do her best to pull the tall order off.

According to industry sources on June 16, Hyundai Merchant Marine will sign a contract with Orix Private Equity of Japan within this week to sell off 53.07 million shares in the group's financial service units such as Hyundai Securities, Hyundai Savings Bank, and Hyundai Asset Management at the price of 647.5 billion won.

Once the deal goes through the regulatory hurdles related to business group governance and largest shareholder qualification screening to be made by the Fair Trade Commission and financial regulators, the 18-month restructuring process of Hyundai Group would be officially closed.

Earlier in December 2013, Hyundai Group proposed a self-help restructuring plan reaching 3.3 trillion won and has so far achieved the target by 108.3 percent. Once the group finishes selling off Hyundai Securities this week, all major restructuring deals would be completed, except a few securitization deals pending on overseas container terminals including California United Terminals in Los Angeles and Washington United Terminals in Seattle. Hyundai Merchant Marine is currently working on taking cash of 150 billion won out with the two container terminals as collateral.

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • URL: / Editorial Div. 02-578-0434 / 010-2442-9446. Email:
  • Publisher: Monica Younsoo Chung. CEO: Lee Kap-soo. Editor: Jung Yeon-jin. Juvenile Protection Manager: Yeon Choul-woong.
  • IT Times Canada: Willow St. Vancouver BC, Canada / 070-7008-0005.
  • Copyright(C) Korea IT Times, Allrights reserved.