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Business deals

Activist fund Elliott takes hit and exits Hyundai Motor

Divestment of South Korean automaker cost $430m: local media

In response to Elliott's demand, Hyundai Motor increased spending on research and development activities and mergers and acquisitions.    © Reuters
KOTARO HOSOKAWA, Nikkei staff writer | South Korea

SEOUL -- Activist investor Elliott Management has sold all its shareholdings in South Korea's Hyundai Motor Group, local media outlets reported Thursday.

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