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Financial system1 hour ago (Jan 05, 2022 05: 55AM ET)

© Reuters. FILE PHOTO: Euisun Chung, government chair of Hyundai Motor Neighborhood, speaks at a Hyundai files convention all the plot through CES 2022 in Las Vegas, Nevada, U.S. January 4, 2022. REUTERS/Steve Marcus

By Heekyong Yang and Joyce Lee

SEOUL (Reuters) -Non-public equity giant Carlyle Neighborhood (NASDAQ:) sold a 10% stake in logistics company Hyundai Glovis Co Ltd charge about 611 billion gained ($510 million), Hyundai Motor Neighborhood acknowledged on Wednesday.

The shares in the Hyundai Motor affiliate were equipped by Hyundai Motor Neighborhood Chairman Euisun Chung and Honorary Chairman Mong-Koo Chung, Hyundai Glovis acknowledged in a regulatory submitting. Mong-Koo Chung and Euisun Chung are father and son.

“Carlyle’s deep sector experience and stable operational impress-creation capabilities could well maybe help the corporate impress and the shareholder impress of Hyundai Glovis going forward,” the neighborhood acknowledged in a commentary.

Carlyle did no longer without lengthen retort to a requirement for teach.

South Korea lately reinforced its antitrust regulations against listed firms with bigger than 20% held by proprietor households, down from a 30% stake.

($1 = 1,198.1300 gained)

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