Manufacturer Hyundai Motor Group and Taiwan-based Fubon Group, a financial services conglomerate, will reportedly buy out GE Capital’s 43% stake in captive finance company Hyundai Capital, according to a press report in the Korea Economic Daily today.
In the United States, Hyundai Capital America serves both the Hyundai and Kia brands. None of the companies reported to be involved could be reached for comment.
Hyundai Capital America had a serviced portfolio of $12.2 billion in outstandings as of June 30, up from $11.8 billion a year earlier, according to a prospectus for asset-backed securities HCA filed with the Securities and Exchange Commission in September.
