KEB picks lead managers for Hyundai Corp. sale

By Nam Kwang-sik
SEOUL, Feb. 2 (Yonhap)-- Creditors of Hyundai Corp. have named lead managers for
the sale of their controlling stake in the South Korean trading company, Korea
Exchange Bank (KEB) said Monday.

The lead managers are NH Investment & Securities Co. and the consortium of Woori
Investment Securities Co. and state-run Korea Development Bank (KDB), KEB said in
a statement.
Hyundai was placed under a workout debt program in June 2003.
The creditors of Hyundai including Woori Bank, KDB and KEB, decided at the end of
last year to extend the workout debt program for Hyundai due to the global
economic credit crunch, though the trading company normalized its business
operations.
The creditors hold a 50 percent stake plus one share in Hyundai.
ksnam@yna.co.kr