May 15, 2018 / 11:27 AM / 3 months ago

ISS recommends shareholders vote against Hyundai Mobis' restructuring plan

SEOUL (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) in a report on Tuesday recommended that shareholders vote against Hyundai Mobis’ plan to spin off parts of the company and merge them with Hyundai Glovis.

“Although the terms of the transaction are fully compliant with the governing laws of Korea, the deal appear to be unfavorable for Hyundai Mobis shareholders,” ISS said.

Reporting by Christine Kim and Hyunjoo Jin; editing by Jason Neely

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