Hyundai Motor Group postpones spin-off merger plan for Hyundai Mobis and Hyundai Glovis
Korean automotive group's plan faces opposition from investors, including Elliot Management
Hyundai Motor Group has postponed its plan to spin off Modules and After Sales Parts business of Hyundai Mobis and merge it with another subsidiary Hyundai Glovis, citing uncertainty regarding receiving shareholders’ approval, the company said in a press release on 21 May. Hyundai Mobis and Hyundai Glovis separately held board meetings yesterday and decided to re-evaluate and revise the proposed spin-off merger between the two companies.
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