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Billionaire Schindler Holding AG Chairman Alfred Schindler said Hyundai Elevator Co. management reneged on a provisional agreement to sell most of the company, forcing him to file lawsuits to protect his investment.
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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.
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Hyundai Group ’s bid to buy control of South Korea’s largest builder collapsed because of concerns about funding plans for the acquisition.
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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.
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Hyundai Group may receive a third request for more details on how it will pay for a controlling stake in South Korea’s largest builder after failing to allay concerns about funding plans.
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U.S. Secretary of State John Kerry traveled to Asia seeking to reassure allies in South Korea and Japan and encourage China to increase pressure on North Korea to drop its threats and nuclear-weapons development.
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Hyundai Engineering & Construction Co. fell the most in almost two weeks in Seoul after Hyundai Group gave shareholders documents supporting its funding plan for buying a stake in the builder, damping speculation the deal may fall apart.
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Hyun Jeong Eun’s Hyundai Group was named preferred bidder for South Korea’s largest construction company, beating out a rival offer from her billionaire brother-in-law’s automaking group.
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Hyundai Group Chairwoman Hyun Jeong Eun may have to raise about 4.8 trillion won ($4.2 billion) by the end of next year after beating her billionaire brother-in- law for control of South Korea’s biggest builder.
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Hyundai Engineering & Construction Co. ’s controlling shareholders may scrap talks on a sale to Hyundai Group after saying the buyer had failed to allay concerns about funding plans.
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