Creditors eye concluding sale of Hyundai Corp. by mid-Dec.

SEOUL, Nov. 30 (Yonhap) -- Korea Exchange Bank (KEB), a main creditor of Hyundai
Corp., said Monday it will seek to complete the sale of the South Korean trading
company by no later than mid-December.

Hyundai Heavy Industries Co., the world's biggest shipbuilder, was picked as the
preferred bidder for Hyundai Corp. in late September.
"Creditors will decide on whether to approve the sale plan by Friday and if
approved, we plan to cap the clinching of the final deal (with Hyundai Heavy
Industries) no later than mid-December," KEB said in a statement.
Since last year, the creditors of Hyundai Corp. have been seeking to sell the
trading company, which was bailed out in 2004 through a debt-for-equity swap.
Market watchers estimated that the purchase price to buy 50 percent plus one
share of Hyundai Corp. may be set at 235 billion won (US$202.4 million).
sooyeon@yna.co.kr
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