Hyundai Heavy Industries Sells 646 Billion KRW Stake in Hyundai Global Service to US Private Equity Fund
[Asia Economy Reporter Ji Yeon-jin] Hyundai Heavy Industries announced on the 23rd that it sold 15.2 million shares of its subsidiary Hyundai Global Service to a fund established by the US private equity firm Kohlberg Kravis Roberts (KKR), GLOBAL VESSEL SOLUTIONS, L.P., for 646 billion KRW.
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As a result of this share disposal, Hyundai Heavy Industries' ownership stake in Hyundai Global Service has become 62.0%. The company stated that the sale was made "to secure investment funds for new business ventures."
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