Halla Engineering-stake sale

By Nam Kwang-sik
SEOUL, Nov. 26 (Yonhap) -- Halla Engineering & Construction Co., a South Korean
builder, said Wednesday that it has sold its controlling stake in its auto parts
subsidiary to Mando Corp. for 19.6 billion won (US$13 million).

Halla Engineering has sold its 49-percent interest in Halla Stackpole Corp. to
its other auto parts unit Mando in order to create synergy, the builder said in a
regulatory filing.
In January, Halal Engineering bought back Mando, the nation's largest auto parts
maker from Sun Sage BV, a consortium led by private equity funds CCMP Capital
Asia and Affinity Equity Partners.
Halla Engineering sold its majority stake in Mando in late 1999 to the consortium
in the wake of the 1997-98 Asian financial crisis.
ksnam@yna.co.kr
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