GE to sell entire stake in South Korea's Hyundai Card

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Hyundai Commercial Inc, Affinity Equity Partners, GIC and AlpInvest signed a deal to buy the stake, GE said in a statement, without disclosing the deal value.

GE, which is exiting its investment after 12 years, had 69 million shares in Hyundai Card.

In a regulatory filing, Hyundai Commercial, an auto-financing firm, said on Wednesday it will buy 30.5 million Hyundai Card shares from GE for 298 billion won ($258 million) for "management purposes".

Hyundai Motor Co (005380.KS) held 59.3 million shares in Hyundai Card at end-September.

In 2015, GE agreed to sell a 23.3 percent stake in Hyundai Capital, another auto-financing firm for 703 billion won. GE completed the sales of a remaining 20 percent stake in October last year.

(Reporting by Hyunjoo Jin; Editing by Sherry Jacob-Phillips)