Daimler to Take 50% Stake in Hyundai Truck

Friday September 20, 1:49 am ET

TOKYO, Sept 20, 2002 Reuters is reporting that German-US auto giant DaimlerChrysler AG will take a 50 percent stake in Hyundai Motor Co's commercial vehicle operations, Japan's Nihon Keizai Shimbun website reported on Friday. Hyundai will likely split off the commercial vehicles division and turn it into a joint venture with the German company, with DaimlerChrysler paying an estimated 400 million euros for the stake, it said, adding that an announcement was due on Friday.

Hyundai Motors was not available to comment. Friday is a holiday in South Korea.