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Hyundai Motor Group to acquire 5% stake in Korea Zinc for $398 mln

Kitco News

SEOUL, Aug 30 (Reuters) - Hyundai Motor Group said on Wednesday that it would acquire a 5% stake in Korea Zinc for 527.2 billion won ($397.74 million).

The stake purchase is part of the automobile group's collaboration with the smelter to ensure a stable supply chain for electric vehicle batteries, Hyundai Motor Group said in a statement.

($1 = 1,325.5000 won) (Reporting by Ju-min Park; Editing by Muralikumar Anantharaman)

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