Last checked at 22 Dec 2015 09:51
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Exchange
Disclosure Title: Response to Disclosure Inquiry regarding Rumor or News
1. Title of disclosure
Response to disclosure inquiry regarding a company's review on investment in GE owned Hyundai Capital and Card share.
2. Response from the company
HMC has made a decision to acquire 3.2% (about 96 billion Korean Won) of 43.3 % GE owned Hyundai Capital share.
Meanwhile, Kia will acquire 20.1% of 43.3% GE owned Hyundai Capital share. GE will embark on seeking for a potential buyer for the rest 20% share. During this process, GE may exercise the put option. In that case, there is a possibility for a further investment in Hyundai Capital.
However, HMC has not yet made a decision on GE owned Hyundai Card share. HMC will release a follow-up disclosure within 6 months or issue an immediate disclosure if any concrete decision has been made before 6 months of period is reached.
3. Others
Above response is for the disclosure inquiry from Korea Exchange on the rumor regarding involvement of Hyundai Motor Company's investment in Hyundai Capital and Card shares previously owned by GE
Related disclosures previously issued: October 22nd 2014, November 21st 2014, May 20th 2015, November 19th 2015.