Hyundai confident reorganisation will benefit shareholders

Hyundai Glovis

04/04/2018 02:33

SEOUL, April 4 (Reuters) - South Korea's Hyundai Motor Group
said on Wednesday it was "confident" its plan to streamline its
governance structure would benefit shareholders, amid investor
concerns that the controlling family's interests were being put
first.
    The comments came after a unit of U.S. activist hedge fund
Elliott Management said it held more than $1 billion of shares
in three key Hyundai Motor Group affiliates and called for more
to be done to reform the family-owned conglomerate.  L4N1RG5BG 
    "We will make continued efforts to enhance corporate value
and investor interest going forwards and plan to faithfully
communicate with shareholders in South Korea and overseas,"
Hyundai Motor Group said in a statement. 

 (Reporting by Hyunjoo Jin; Editing by Stephen Coates)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))