Private equity giant Carlyle Group bought a 10% stake in logistics company Hyundai Glovis Co Ltd worth about 611 billion won ($510 million), Hyundai Motor Group said on Wednesday.
The shares in the Hyundai Motor affiliate were sold by Hyundai Motor Group Chairman Euisun Chung and Honorary Chairman Mong-Koo Chung, Hyundai Glovis said in a regulatory filing. Mong-Koo Chung and Euisun Chung are father and son.
South Korea recently strengthened its antitrust regulations against listed companies with more than 20% held by owner families, down from a 30% stake.
Read more/Source: FXEmpire
