Business & Finance
Hyundai seeks full control of Turkish car plant, competition authority says
- The Competition Authority website said Hyundai had made a request to take full control of the factory, which produces Hyundai models such as the i10 and i20.
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ISTANBUL: Hyundai Motor Company has applied to take full control of its factory in Turkey by buying a 30pc stake now held by Kibar Holding, the Turkish Competition Authority said.
Hyundai already holds a 70pc stake in the factory.
The Competition Authority website said Hyundai had made a request to take full control of the factory, which produces Hyundai models such as the i10 and i20.
The plant has capacity to produce 230,000 vehicles a year, most of them exported to Europe.