Fleet News

Kia UK welcomes banks' support for Hyundai

HYUNDAI has secured the all-important backing of Kia's creditor banks in its bid to take over the troubled manufacturer, effectively winning control of the company. The end to uncertainty about the future of the manufacturer has been welcomed by Kia Cars UK, which is making preparations for a renewed marketing push of the brand in Britain.

Following further negotiations on the level of debt to be written off, finance houses and banks which are owed in the region of £7 billion by Kia, agreed for much of the money owed to be set aside.

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