KDB to arrange sales of Hyundai Group financial units
Seoul - Yonhap
State-run Korea Development Bank (KDB), the main creditor of the cash-strapped Hyundai Group, is moving to arrange sales of the group's three financial units instead of acquiring them through a private equity fund, industry sources said Wednesday. According to the banking sources, the KDB is planning to arrange the sales of some 36 percent in Hyundai Securities Co. The brokerage firm's two other units -- Hyundai Savings Bank Co. and Hyundai Asset Management Co. -- are also up for sale.
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