[DISCLOSURE]
Hyundai HCN (126560) announced on Oct. 16 that
Hyundai Department Store (069960)’s group vice chairman
Chung Kyo-sun has sold his entire 3 percent stake (3,384,570 shares) to
Hyundai Home Shopping (057050) in an after-hours block deal at W13.9 billion won (US$12.37 million).
The home shopping network announced its acquisition “to strengthen control over a solid affiliate” in a separate statement. Its stake has increased to 38.34 percent.
By Hwang You-mee (
glamazon@heraldcorp.com)