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Kia Motors, Hyundai Motor to buy $600m stake in Hyundai Capital from GE

Hyundai MotorHyundai Motor and Kia Motors will buy a 23.3 percent stake in auto financing affiliate Hyundai Capital from General Electric for 703 billion won ($600.8 million).

Hyundai Motor, South Korea's biggest automaker, plans to acquire a 3.2 percent stake worth 96 billion won, while second-placed Kia Motors would buy a 20.1 percent stake worth 607 billion won, the two companies said in public filings.

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Hyundai Motor also said it could buy the remaining 20 percent stake GE has in Hyundai Capital in the future.




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