Hyundai Motor heir apparent sells partial stake in ad firm for nearly $300 mln

SEOUL Thu Aug 14, 2014 4:22am EDT

SEOUL Aug 14 (Reuters) - Hyundai Motor's heir apparent and vice chairman, Chung Eui-sun, sold a 30 percent stake in its advertising affiliate, Innocean, for 300 billion Korean won ($293.63 million), Innocean said in regulatory filing on Thursday.

Innocean did not say who bought the stake in the Aug. 7 deal, which reduced Chung's stake from 40 percent to 10 percent.

(1 US dollar = 1,021.7000 Korean won) (Reporting by Hyunjoo Jin; Editing by Matt Driskill)