Hyundai Heavy Affiliate Aims to Sell Stake in Brokerage Unit
Posted by Eric Haun
July 13, 2016
South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year.
The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities.
In June, Hyundai Heavy Industries announced a plan to sell its non-core assets, as the shipbuilder is grappling with a global slump in trade and commodities, plus rising competition from China.
(Reporting by Hyunjoo Jin; Editing by Gopakumar Warrier)
