Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric

Hyundai and Kia acquire 23% stake of Hyundai Capital from General Electric

04.01.2016 News

Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric

Recently, according to informed sources, the major Korean  automakers Hyundai Motor and Kia Motors announced the purchase of the financial corporation Hyundai Capital from General Electric. The transaction price is generally $ 599,5 million. (Hyundai will pay $ 81,800,000 for 3% of shares, and the company Kia Motors will acquire a 20% stake for $ 517.7 million.) This is one of the largest agreements in the automobile industry in 2015.

Hyundai Capital is a joint Hyundai Motor Company and General Electric, which provides assistance in the area of ??loans for cars and car leasing. The company was founded in 1993 and today it is one of the largest enterprises that fund the automotive industry in South Korea and in the world market.

Hyundai Motor is the South Korean company, which is the fourth largest global company engaged in the production and sale of automobiles. The company has nearly 5,000 salons worldwide. In 2014, the group has gone through a sharp drop in net income, with the global crisis of 2008. Revenues decreased by 19% in the fourth quarter of the year to $ 1.5 billion.

Kia Motors is the seventh-largest car maker, in 2014  it reached the appraised value of $ 5.4 billion USA.

Critics look at that deal positively, and see in it the potential to build spheres of influence in the automotive industry for two major concerns.

According to analysts, this acquisition is a definite strategy. At the same time, representatives of the companies-buyers announce their plans in the future to buy another 20% of the remaining shares of the company General Electric, thus strengthening its position.

Source: lenta.ru

Other articles

  • Airbnb will try to get an estimate of $ 35 billion for an IPO
    News

    Airbnb will try to get an estimate of $ 35 billion for an IPO

    According to Bloomberg, citing documents submitted to the Securities and Exchange Commission (SEC), the short-term rental service Airbnb plans to raise $ 2.6 billion in listing in the US and receive an estimate of $ 35 billion. If the company manages to raise $ 2.6 billion, Airbnb’s placement will be the fourth largest IPO in […]

  • Pfizer and BioNTech have applied for registration of the COVID-19 vaccine in Europe
    News

    Pfizer and BioNTech have applied for registration of the COVID-19 vaccine in Europe

    The American company Pfizer and the German BioNTech have applied to the European Medicines Agency for registration of their coronavirus vaccine. The announcement was published on the BioNTech website. “On Monday, November 30, Pfizer and BioNTech filed a formal application with the European Medicines Agency for a conditional authorization to use their COVID-19 candidate vaccine […]

  • The Verkhovna Rada has taken a step towards the legalization of cryptocurrencies
    News

    The Verkhovna Rada has taken a step towards the legalization of cryptocurrencies

    The Verkhovna Rada of Ukraine adopted in the first reading the draft law №3637 on virtual assets. LIGA.net reports, 230 people’s deputies voted for this document. According to the explanatory note, the market for virtual assets in Ukraine has been already formed and has existed for about five years, but it is completely outside the […]

  • Salesforce announced the purchase of Slack messenger for $ 27.7 billion
    News

    Salesforce announced the purchase of Slack messenger for $ 27.7 billion

    Salesforce is one of the world’s largest players in the cloud computing sector. They will buy Slack Technologies, the owner of Slack’s corporate messenger. The Wall Street Journal reports, Messenger will cost Salesforce $ 27.7 billion, which will be the largest acquisition of the company in its history. The terms of the deal include that […]

  • An analogue of a Turkish drone is expected in Ukroboronprom
    News

    An analogue of a Turkish drone is expected in Ukroboronprom

    The Ukrainian Sokil-300 drone is an analogue of the Turkish Bayraktar and it may join the army next year. The head of Ukroboronprom Igor Fomenko announced it in an interview with RBC-Ukraine. “This is an analogue of the same Turkish Bayraktar. With funding it may already be adopted in a year,” he said. Fomenko says […]

  • The value of bitcoin has approached $ 20 thousand
    News

    The value of bitcoin has approached $ 20 thousand

    Last week, the value of cryptocurrency fell sharply, but now it is approaching a historic high again. According to Coin Desk, after a sharp drop last week, the value of bitcoin broke the record and reached $ 19,686. Thus, the cryptocurrency exceeded the value recorded on December 16, 2017 by $ 20,665. But the absolute […]

  • Poroshenko’s former plant has paid off 300 million in debt
    News

    Poroshenko’s former plant has paid off 300 million in debt

    The Kyiv shipyard Kuznya na Rybalskomu (Ukrainian: “Кузня на Рибальському”) has returned to the state budget more than 300 million UAH, which the Ministry of Finance had previously paid on the company’s debts. It is noted that in 2017 the government provided state guarantees for a plant loan from Ukreximbank. The credit line allowed to […]

  • The tenth distillery was sold at auction in Ukraine
    News

    The tenth distillery was sold at auction in Ukraine

    The State Property Fund sold the Khorostkiv distillery at auction for UAH 55 million. This was reported on the auction page. This is the tenth enterprise in the industry to be privatized. Its initial cost was 31.4 million UAH. It is noted that four buyers participated in the auction for the sale of the Khorostkiv […]

Read also

Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Thermo Fisher merges with the Affymetrix company

The largest manufacturer of equipment for laboratory research Thermo Fisher, conclude a purchase deal to buy the Affymetrix company, which develops integrated solutions for genetic researches, for $ 1.3 billion cash. Following the announcement of the transaction, shares of the Affymetrix company sharply increased in price by 50%. Currently, Thermo Fisher estimates Affymetrix estimates at […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

KWS-Ukraine will build a seed plant in Kamianets-Podilskyi

KWS-Ukraine company begins a construction of a modern complex for seed conditioning in Kamianets-Podilskyi. “Philosophy of the KWS business is “in the region for the region”. That is why it is in principle for us the cultivation of corn seeds in the region of its realization”, – reported in the company. New capacity in the […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Does Ukraine refuse to continue oil business in Egypt?

Company Naftohaz  Ukraine has analyzed the alternatives to  sale the foreign assets, but there is no a buyer for it. According to the director of the company  Andrii Kobolev, the true reason for this is a low profitability of Ukrainian Naftohaz assets in Egypt. It is reported by UNIAN. Kobolev said that it is not […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

The court restrainted Billa to open a supermarket on a parking area

The “Billa-Ukraine” Company was restrainted the exploitation of the ground floor of an apartment house №27 on the Chornovil street in Kyiv, where on April 27, 2016 the opening of the supermarket was planned. This decision was concluded by the  Shevchenko district court on April 21. As reported the initiative group of the residents, the […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

EpiCentre K has bought Alta Center TC

EpiCentre K  has bought the Alta Center TC . The object has been pledged to the one of the commercial banks and sold to repay the debt to the financial institution. There are no any official comments from EpiCentre K for this moment. The complex is owned by VK Development – a developer unit of […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

The prosecutor’s office closed the criminal case against VAB Bank main shareholder

The criminal case against the owner of VAB Bank is closed. It is reported by news agency Interfax-Ukraine, referring to the statement of the press service of the Ukrainian company Ukrlandfarming, co-owner of which is also above mentioned businessman Oleh Bakhmatiuk. According to the original source, in the course of an investigation initiated by representatives […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Austrian investment banker buys 65,7% of Investbank shares

Uwe Christian Eschner, the Austrian investment banker intends to take 65,749% of Investbank shares (Odessa). The National commission on securities and the stock market (NCSSM) financial institution in the system of the information disclosure provided information about it. Particularly, Eschner intends to take 45 550 625 bank shares with the nominal value of 58,3 million […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

SFS fined Philip Morris for 4.1 billion UAH

The State Fiscal Service of Ukraine imposed a fine on Philip Morris Ukraine. In turn, the tobacco company believes that the claims of the Department of tax and customs audit of the SFS for 4.1 billion. UAH are unfounded. “Now the fine is not yet accrued officially. The verification was completed on May 10 and […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

The court found guilty the NBU of bankruptcy of the “Ukrgazprombank”

March, 14 Kyiv District Administrative Court declared illegal inactivity of the regulator in relation to the “Ukrgazprombank”, which was declared insolvent in 2015, and now goes into liquidation. The lawsuit was filed by one of the contributors of the Ukrgazprombank – “Trading House Sanko” LLC , writes the  FinClub. In August 2014 the company has […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Insurance Group TAS, which was owned Tihipko sold to a Cyprus company

The National Committee of state regulation of the financial services allowed the Cypriot company Bailican Ltd. establish control over the Insurance Company “TAS” and Insurance Group “TAS”. The National Committee of state regulation of the financial services, July 12, according to the order number 1667, allowed to a Cypriot company Bailican Ltd. indirectly acquire 99.9559% […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Experts estimated the damage to the global economy due to coronavirus

Experts predict the collapse of the economy if states do not continue the policy of fiscal support for business. Information was reported by the American publication of Bloomberg. The main problem today – is a continuation of the spread of the virus that outbreaks around the world. Even when the vaccine is developed, its use […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Investment from China: $ 1.5 billion in Kyiv transport infrastructure

According to Ilia Sahaidak – a deputy chairman of the KSCA, a building company CRBC from China intends to implement the “turnkey construction project” of Velyka Kiltseva Doroha, the track Nyvky – Brovary, and in addition, road interchange near the metro station Shuliavska. Sahaidak noted that the Chinese company in this matter demonstrates great skill […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Became known the consequences of restructuring in Google

This week the report of the Alphabet associated company of Google for the fourth quarter 2015 is eagerly awaited  in Wall Street. The company for the first time reports on the results separately from the rest of their enterprises. In October, Google conducted a massive restructuring process and has become a part of Alphabet holding […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

Amazon has received permission to deliver orders by drone to the United States

Amazon, an online retailer, has received permission from the US Federal Aviation Administration (FAA) to use drones to deliver parcels to customers. The permit was issued for the Prime Air service. Bloomberg writes that now Amazon will be able to start delivering their orders to customers on a commercial basis. The company and its competitors […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

The NBU has not intervened on the interbank market for three weeks

The National Bank did not go out this week with interventions on the interbank market, according to the press service of the regulator on Friday, November 27. The Central Bank has been refusing to buy or sell currency for three weeks in a row. At the same time, since the beginning of the year, the […]

Next
Hyundai and Kia acquire 23% stake  of Hyundai Capital from General Electric
News

For UkrLandFarming appeared new opportunities to attract investment in Ukraine

Seeing a clear plan of debt restructuring, international lenders agreed to continue cooperation with UkrLandFarming in the agricultural sector.  “Today we can see that efficiency UkrLandFarming fully restored, the financial situation is stable, and the lenders are configured to work with the holding in the future”, – said Nick Piazza, CEO of SP Advisors finance […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com