TOKYO, July 16 Japan's Orix Corp has
agreed to buy a controlling stake in a logistics unit of South
Korean conglomerate Hyundai Group, a person with
direct knowledge of the matter said on Wednesday.
Orix and a South Korean partner will pay about 240 billion
won ($230 million) for a 70 percent stake in a special purpose
company that will own about 90 percent of Hyundai Logistics
Co, said the source, who was not authorised to discuss
the matter publicly. The identity of the partner is not known at
The rest of the special purpose company will be held by
Hyundai Merchant Marine Co, he said.
An Orix spokesman declined to comment.
Orix, a financial company with a diverse investment
portfolio, has been actively buying stakes in a wide array of
businesses at home and overseas. Last month, it agreed to buy a
majority stake in Japanese automobile prototype maker Arrk Corp
($1 = 1032.8000 Korean Won)
(Reporting by Taiga Uranaka; Editing by Edmund Klamann)