Hyundai should carry out a fundamental restructuring, appoint fresh board members and significantly increase dividends, Elliott Advisors has said under a proposed plan to bring much needed improvements to the Korean carmaker.
The activist fund run by Paul Singer declared a $1bn stake in the group and its various subsidiaries, which includes parts maker Hyundai Mobis and the carmaker Kia, last month.
Currently, parts company Hyundai Mobis owns 20.8 per cent of Hyundai Motors, which itself owns 33.9 per cent of Kia.
Kia, in turn, owns 16.9 per cent of Hyundai Mobis.
Hyundai has taken some steps to…
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