Ford to Acquire Part of Hyundai"s Kia Shares
America's Ford Motor Company will participate in Kia Motor's share offering.A source from Hyundai Motor's staff commented on December 24 that Ford will become the second major stockholder next to Hyundai when Ford buys a portion of Hyundai's 51 percent share.
He said, 'Although Ford had sold its 6,480,000 shares of Kia's stock, 9.04 percent of the company, to ING Bearing this week to realize a profit, full-scale negotiations will begin now.'
It is highly probable that Ford will acquire some of Hyundai's portion of Kia instead of buying other company's shares in the carmaker.
Kia will shed 90 percent of its securities while increasing its capital fund to 1.2 billion dollars and Hyundai is to take over 51 percent of Kia.
with the Korea JoongAng Daily
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