Kia Motors : South Korea's Hyundai Mobis says will spin off two divisions, merge them with Glovis

SEOUL (Reuters) - South Korea's auto parts maker Hyundai Mobis Co Ltd (>> HYUNDAI MOBIS CO., LTD.) said on Wednesday it will spin off its module and after-service parts businesses and merge them with affiliate Hyundai Glovis (>> Hyundai Glovis Co Ltd).

SEOUL (Reuters) - South Korea's auto parts maker Hyundai Mobis Co Ltd said on Wednesday it will spin off its module and after-service parts businesses and merge them with affiliate Hyundai Glovis.

South Korea's Hyundai Glovis said in a regulatory filing that the merger is intended to resolve circular shareholdings.

(Reporting by Joyce Lee; Editing by Shri Navaratnam)

Stocks treated in this article : Hyundai Motor Co, Kia Motors Corporation, HYUNDAI MOBIS CO., LTD., Hyundai Steel Co, Hyundai Glovis Co Ltd