[Alpha Biz= Kim Jisun] Private equity firm Centurion Resource Investment LLC (operating under Affinity Equity Partners) has reduced its stake in Hyundai Commercial, slightly widening the ownership gap between Hyundai Motor—the company’s largest shareholder—and the combined holdings of company executives Chung Myung-yi and Chung Tae-young.
On April 14, Hyundai Commercial disclosed that Affinity’s ownership stake had decreased from 25% to 22.99%. Previously, Affinity sold 535,400 shares, or a 2.01% stake, for approximately KRW 19.9 billion. The company then repurchased and retired the shares, resulting in Affinity’s final stake being adjusted to 23.46%, effectively marking a 1.54 percentage point decline.
Following the share buyback and cancellation, Hyundai Motor’s stake increased from 37.5% to 38.27%. President Chung Myung-yi’s stake rose from 25% to 25.51%, while Vice Chairman of Hyundai Card, Chung Tae-young, saw his stake increase from 12.5% to 12.75%. Combined, the couple now holds a 38.26% stake in Hyundai Commercial—just 0.01 percentage points behind Hyundai Motor, which marks a slight shift in shareholder influence.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
