Daily News: October 31, 2014

GE Planning Stake Sale in Two South Korean Finance JVs

Reuters reported General Electric is reportedly planning to divest stakes in its joint venture auto-financing and credit card businesses in South Korea, people familiar with the matter told Reuters .

According to Reuters , GE has a 43% stake in the two businesses it partners with Hyundai Motor; and the South Korean company has the right of first refusal over the stakes under an agreement entered into 10 years ago.

To read the entire Reuters article, click here.