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October 16, 2008


Hyundai Heavy Industries to buy 1.5% stake in Hyundai Motor

Yonhap reported that Hyundai Heavy Industries Co one of the world's largest shipbuilder will spend KRW 211 billion (USD 230 million) to buy 3.29 million shares of Hyundai Motor Co.

Hyundai Heavy Industries in a regulatory filing said that the share purchase will raise the shipbuilders' stake in South Korea's leading automaker to 3.46%.