5 Jan 2022
Carlyle buys 10% Stake from Hyundai Motor Group worth $510 Million
The Index Today
Hyundai Motor Group said on Wednesday, that the giant private equity Carlyle Group bought a 10% stake in logistics company Hyundai Glovis Co Ltd worth about $510 million.
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.
The group said in a statement, "Carlyle’s deep sector expertise and strong operational value-creation capabilities will benefit the corporate value and the shareholder value of Hyundai Glovis going forward."
Carlyle did not immediately respond to a request for comment.