February 5, 2015 / 2:17 PM / 3 years ago

Hyundai Motor family on track to sell all of stake offered in affiliate-source

SEOUL, Feb 5 (Reuters) - The chairman of Hyundai Motor Co and his son are on track to sell all of the 13 percent stake in logistics and shipping affiliate Hyundai Glovis Co Ltd offered in a block deal worth about $1 billion on Thursday, a person with direct knowledge of the matter said.

The person said prices were not finalised yet, after the two offered some 5.02 million shares in Hyundai Glovis at a price range of 227,500-232,500 won each.

The person declined to be identified as the details were confidential.

Hyundai Motor could not be immediately reached for comment. (Reporting by Joyce Lee and Hyunjoo Jin)

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