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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)