Hyundai Group, the South Korean conglomerate planning to raise 3.3 trillion won ($3.2 billion) from asset sales to ease a cash crunch, is in talks to sell a stake in its logistics unit to Orix Corp. in Japan.
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.
A decade-long feud that split one of South Korea’s most powerful families now puts a former Girl Scout leader against the nation’s second-wealthiest man in a $2.5 billion fight for the country’s biggest construction company.
Hyundai Engineering & Construction Co. ’s shareholders gave Hyundai Group until Dec. 7 to submit information about a 1.2 trillion won ($1 billion) loan it received from Natixis SA to finance a stake in the builder.
Hyundai Merchant Marine Co. , the biggest unit of South Korea’s Hyundai Group, surged in Seoul trading after shareholders rejected a proposal to increase the preferred stock sales limit, raising speculation it may become a takeover target.
Hyundai Elevator Co. , South Korea’s largest elevator maker, rose to the highest level in more than three years in Seoul trading after share purchases by Schindler Holding AG and parent Hyundai Group stoked takeover speculation.