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-GE TO SELL SHARES IN HYUNDAI CARD CO. TO HYUNDAI COMMERCIAL, AFFINITY EQUITY PARTNERS AND OTHER INVESTORS

Feb 03, 2017 - ENP Newswire

Boston, Mass. - GE (NYSE: GE) announced today that it has signed an agreement to sell its 43% stake in Hyundai Card Co. (HCC) to Hyundai Commercial, Affinity Equity Partners, GIC and AlpInvest to exit its entire 43% ownership in HCC. Hyundai Card Co. is a joint venture between GE and Hyundai that issues credit cards in the South Korean market. Hyundai Commercial is an affiliate of Hyundai Motor Group. Affinity is a leading private equity investor focusing on pan-Asia region. GIC is a sovereign w...