Schindler Holding AG, the Swiss elevator maker, is weighing a sale of it’s stake in Hyundai Elevator Co. to prevent its investment from being diluted by future share sales, Chairman Alfred Schindler said.
Hyundai Merchant Marine Co., South Korea’s second-largest sea cargo carrier, led gains among shares of Hyundai Group companies after the conglomerate said it plans to sell assets to raise 3.3 trillion won ($3.1 billion).
Hyundai Group Chairwoman Hyun Jeong Eun failed in an attempt to buy a stake in South Korea’s largest builder, opening up a possible challenge for control of her biggest company from her billionaire brother-in-law.
Hyundai Engineering & Construction Co. , South Korea’s biggest builder, tumbled in Seoul trading after Hyundai Group signed a preliminary agreement to buy a controlling stake, damping speculation the deal may fall apart.
Emerging-market stocks rose the most in two weeks, led by technology companies and China Mobile Ltd., after the U.S. economy expanded faster than expected and the International Monetary Fund said it’s raising the country’s outlook. The baht weakened.