Hyundai to communicate shareholders and investors for restructuring plan

Hyundai Motor stated it would keep communicating with shareholders and investors, including Elliott Management, regarding its proposed restructuring plan.

“Hyundai Motor Group will keep communicating with shareholders and investors across the world, including Elliott Management, to describe the underlying goal and requirements of the proposed restructuring plan,” it stated on Monday.

U.S. activist hedge fund Elliott Management previously stated Hyundai’s restructuring plan to simplify its shareholding structure was not much and recommended it create a holding company, and other measures.