[THE INVESTOR] Hyundai Motor Group is yet to decide whether it will buy a 20-percent stake in its auto finance unit Hyundai Capital from General Electric, the carmaker said on July 8.

GE acquired a 43.3-percent stake in Hyundai Capital from Hyundai Motor Group for 620 billion won (US$535 million) in 2004.

Last year, the US company sold 20.1-percent and 3.2-percent stakes in Hyundai Capital to Kia Motors and Hyundai Motor -- the flagship units of Hyundai Motor Group -- for 607.1 billion won and 96.6 billion won, respectively.

The sale raised Hyundai Motor Group’s stake in Hyundai Capital to 80 percent.

GE has put up its remaining 20-percent stake in Hyundai Capital for sale in the market, though no company has come for the stake.

“GE is pushing to sell the 20-percent stake,” a Hyundai Motor Group official said. “Still, no decision has been made yet on whether we will buy the 20-percent stake.” The official asked not to be identified, citing policy.

GE officials were not immediately reached for comment.


(theinvestor@heraldcorp.com)