SOUTH KOREA: Daimler-Chrysler to become biggest Hyundai shareholder – report

DaimlerChrysler invested 381 million US dollars in Hyundai Motors Thursday (21/9/00), and will become the largest shareholder in the company, says Xinhua press agency quoting Hyundai Motors on Friday (22/9/00). The report says that DaimlerChrysler will receive 20.6 million newly-issued Hyundai shares at 29,000 won (around 25 US dollars) per share -in line with a capital tie-up contract signed last month - acquiring a 9 per cent stake in Hyundai. These shares are set to be allocated to a third party on September 29, say Hyundai sources.