According to Reuters, Hyundai Heavy Industries added in a regulatory disclosure that it had signed a share purchase agreement with Saudi Aramco regarding a number of its shares in Hyundai Oil Bank.
Hyundai had said in late January that Aramco was planning to invest up to $ 1.6 billion in Hyundai Oil Bank to expand its presence in South Korea. >
Hyundai Holding Heavy Industries holds 91.13% stake in Hyundai Oil Bank, while Aramco is seeking to buy a stake of up to 19.9% in the latter.
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