SEOUL, Feb. 14 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker and a key affiliate of Hyundai Motor Group, on Friday named an outside director dedicated to enhancing shareholder value. Hyundai Mobis’ board of directors has appointed financial expert Jang Young-woo, a former head of UBS financial firm in Seoul, as [...]
SEOUL, Jan. 22 (Korea Bizwire) — Elliott Management, a U.S. hedge fund, has sold all its stakes in Hyundai Motor Group companies, industry sources said Wednesday, ending nearly two years of challenge to the carmaker’s controlling family over its governance structure. Elliott was not on any of the shareholder lists of Hyundai Motor Co, Kia [...]
SEOUL, Mar. 22 (Korea Bizwire) — Shareholders of Hyundai Motor Co. and Hyundai Mobis Co. on Friday backed the dividend plans of the two automotive firms and their proposed directors but rejected proposals by Elliott Management. The overwhelming support for the South Korean companies is a setback for the U.S. activist investor. Elliott called on [...]
SEOUL, Mar. 14 (Korea Bizwire) — A panel of South Korea’s state pension fund on Thursday sided with Hyundai Motor Co. and its auto parts affiliate Hyundai Mobis Co.’s proposals on dividends and appointments for board members, dealing a blow to hedge fund Elliott Management. The decision is likely to help Hyundai Motor and its [...]
SEOUL, Mar. 13 (Korea Bizwire) — The main advisor of South Korea’s national pension service sided with Hyundai Motor Co. and Hyundai Mobis Co. on Wednesday in the ongoing disputes with Elliott Management over dividend payments and appointments to the board of directors. The Korea Corporate Governance Service (KCGS) recommended that shareholders of the two [...]
SEOUL, Feb. 27 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, on Wednesday outlined a massive five-year investment plan centered on research and future vehicle technologies and underlined the need to maintain sufficient liquidity to guarantee growth. The announcement comes a day after U.S. activist investor Elliott Management demanded Hyundai Motor [...]
SEOUL, Feb. 27 (Korea Bizwire) – U.S. activist fund Elliott Management has begun to put pressure on Hyundai Motor Co. by recommending an outside director and demanding a higher yield. A shareholder in both Hyundai Motor and Hyundai Mobis Co., Elliott Management exercised the right of shareholder’s proposal to recommend a new outside director. However, the two [...]
SEOUL, Sept. 7 (Korea Bizwire) — U.S. activist fund Elliott Management has further tightened the screws on Hyundai Motor Group, calling on the South Korean automaker to adopt a fresh restructuring plan. Raising objections to Hyundai’s earlier plan to streamline its ownership structure, the U.S. entity has called for it to adopt a holding company [...]
SEOUL, May 22 (Korea Bizwire) — There are over 20,000 overseas funds – the likes of billionaire Paul Singer’s Elliott Management Corp – that have invested in the South Korean stock market, according to the Financial Supervisory Service (FSS). As of March, the number of foreign collective investment companies, or “funds”, registered with the government [...]
SEOUL, May 2 (Korea Bizwire) — U.S. investor Elliott Associates said Wednesday that it is taking legal action against the South Korean government over its alleged unlawful intervention in the controversial merger of two Samsung units in 2015. Confirming news reports on the matter that cited judicial sources, Elliott said in a release that it [...]