Hyundai Glovis shares skid on uncertainty about group revamp

Hyundai Glovis

16/05/2018 01:18

SEOUL, May 16 (Reuters) - Hyundai Glovis  086280.KS  shares
fell as much as 7 percent to their lowest levels in about two
months on Wednesday, after two U.S. proxy advisors opposed a
restructuring deal involving the logistics firm and its
affiliate Hyundai Mobis  012330.KS .  
    Hyundai Mobis shares were also down 1.1 percent. 
    Institutional Shareholder Services and Glass Lewis this week
recommended Mobis investors vote against the plan to spin off
some of its business and merge it to Glovis, saying the proposed
deal only benefits Glovis shareholders, including group family
members.  urn:newsml:reuters.com:*:nL3N1SL71E
    

 (Reporting by Hyunjoo Jin; Editing by Stephen Coates)
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