South Korea's Hyundai Motor acquires remaining stake in US Boston Dynamics for $325 million

en.Wedoany.com Reported - Hyundai Motor Group plans to acquire the remaining 9.65% stake in US-based Boston Dynamics held by SoftBank Group for $325 million, making the American robotics company a wholly-owned subsidiary. South Korea's Maeil Business Newspaper reported, citing unnamed industry sources, that Hyundai Motor is expected to hold a board meeting on June 22 to approve the acquisition.

SoftBank has informed Hyundai Motor of its intention to exercise the right to sell its remaining stake under the put option agreement reached when Boston Dynamics was initially sold to Hyundai Motor. Neither Hyundai Motor nor SoftBank immediately responded to requests for comment. According to the report, Hyundai Motor Group, including its executive chairman Euisun Chung and subsidiaries Hyundai Motor, Kia, Hyundai Mobis, and Hyundai Glovis, already holds slightly over 90% of the robotics manufacturer's shares.

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