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Hyundai Electric to sell Bulgarian unit for $24.5 mln

Author Mario Tanev
Hyundai Electric to sell Bulgarian unit for $24.5 mln Photo: Hyundai Heavy Industries Co. Bulgaria / All rights reserved.

SOFIA (Bulgaria), December 4 (SeeNews) - South Korean electrical equipment maker Hyundai Electric said that it has decided to sell its unit Hyundai Heavy Industries Co. Bulgaria for $24.5 million (22.1 million euro).

Hyundai Electric decided to go through with the asset sale in order to improve its financial structure, the company said last week in a filing to the South Korean stock exchange.

Heavy Industries Co. Bulgaria specialises in the production of transformers and tap changers.

($ = 0.9033 euro)

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