Aptiv And Hyundai Motor Complete Ownership Restructuring Transactions Of Motional AD
(RTTNews) - Technology company Aptiv plc (APTV) announced Thursday that Aptiv and Hyundai Motor Group have completed the previously announced ownership restructuring transactions of Motional AD LLC.
As part of the ownership restructuring, Aptiv sold an 11 percent common equity interest in Motional to Hyundai for approximately $448 million of cash consideration.
Aptiv also exchanged approximately 21 percent of its common equity in Motional for a like number of Motional preferred shares.
In addition to Hyundai's funding of Motional earlier this month, these transactions resulted in the reduction of Aptiv's common equity interest in Motional to 15 percent from 50 percent.
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