ID :
37480
Fri, 12/26/2008 - 10:29
Auther :
Shortlink :
http://m.oananews.org//node/37480
The shortlink copeid
Creditors agree to extend debt workout for Hyundai Corp.
SEOUL, Dec. 26 (Yonhap) -- Creditors of Hyundai Corp. said Friday they have agreed to extend a debt workout program for the local trading company by one year, citing a credit squeeze following the global economic downturn.
In addition, the creditors will start selling their shareholdings in Hyundai by
picking a lead manager for the sale in January next year, according to Korea
Exchange Bank, one of the creditors.
For all of 2008, Hyundai is likely to post an operating profit of 49.5 billion
won (US$38.5 million) on sales of 2.7 trillion won, some analysts say.
In addition, the creditors will start selling their shareholdings in Hyundai by
picking a lead manager for the sale in January next year, according to Korea
Exchange Bank, one of the creditors.
For all of 2008, Hyundai is likely to post an operating profit of 49.5 billion
won (US$38.5 million) on sales of 2.7 trillion won, some analysts say.
