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Hyundai Motor Group chairman, units to buy Boston Dynamics from SoftBank for up to US$828 million: source

Hyundai Motor Group units and its chairman have agreed to buy an 80per cent stake in robot maker Boston Dynamics from SoftBank Group Corp for around 800 billion won to 900 billion won (US$736 million-US$828 million), one person familiar with the matter told Reuters on Friday.

The logo of Hyundai Motor Group is seen during a general shareholders' meeting in Seoul
FILE PHOTO: The logo of Hyundai Motor Group is seen during a general shareholders' meeting in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji
(Updated: )

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SEOUL: Hyundai Motor Group units and its chairman have agreed to buy an 80per cent stake in robot maker Boston Dynamics from SoftBank Group Corp for around 800 billion won to 900 billion won (US$736 million-US$828 million), one person familiar with the matter told Reuters on Friday.

Chairman Euisun Chung will own a 20per cent stake in Boston Dynamics, while Hyundai Motor and its affiliates, Hyundai Mobis and Hyundai Glovis, will hold a combined 60per cent stake, two people said.

Both Hyundai Motor and SoftBank declined to comment.

(Reporting by Hyunjoo Jin and Heekyong Yang, Kane Wu, Additional reporting by Sam Nussey in Tokyo; Editing by Sam Holmes)

Source: Reuters