Fleet News

Hyundai stake

DAIMLERCHRYSLER is buying a 10% stake in Hyundai Motor Company in a deal worth $428 million (€457 million) and will join with the Korean manufacturer to bid for Daewoo.

Daewoo's creditors expect to sell the ailing company via an auction by the end of September. The process begins with non-binding proposals that were due at the auction office by the end of June. (July 2000)

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