CGI of U.S. buys 8.07% stake in Hyundai Motor

It was learned that Capital Group International Inc. of the United States has purchased an 8.07% stake in Hyundai Motor, thus becoming the second largest shareholder of the company.

The Financial Supervisory Service said that CGI reported that it has a total of 18.48 million shares, or 8.07% of Hyundai Motor, including7.4 million shares of Hyundai DR.

CGI officials said that the investment is part of its portfolio aimed at capital gains. In the report, CGI attached a list of 115 foreign institutional investors.

An expert on mergers and acquisitions said that global investment firms with tens of billions of dollars in funds hardly purchase that much stake in one company for a short-term investment, noting that the possibility of hostile takeover cannot be ruled out.

Currently, the ownership in Hyundai Motor breaks down into 9% by DaimlerChrysler, 8.4% by Hyundai Precision, 4.36% by Mitsubishi, 3.65% by chairman Chung Mong-Ku, 2.69% by former honorary chairman Chung Ju-Yung and 10.38% by company employees.

Ha Im-Sook artemes@donga.com