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

Hyundai Motor (005380.KS) and Kia Motors (000270.KS) will buy a 23.3 percent stake in auto financing affiliate Hyundai Capital from General Electric (GE.N) for 703 billion won ($600.8 million), the automakers said on Tuesday.

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.

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

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