Aptiv and Hyundai Complete Motional Ownership Restructuring
DUBLIN--(BUSINESS WIRE)--Aptiv PLC (NYSE: APTV), a global technology company focused on making mobility safer, greener and more connected, and Hyundai Motor Group (“Hyundai”) have completed the previously announced ownership restructuring transactions of Motional AD LLC (“Motional”).
As part of the ownership restructuring, Aptiv sold an 11% common equity interest in Motional to Hyundai for approximately $448 million of cash consideration. Aptiv also exchanged approximately 21% of its common equity in Motional for a like number of Motional preferred shares.
In addition to Hyundai’s funding of Motional earlier this month, these transactions resulted in the reduction of Aptiv’s common equity interest in Motional from 50% to 15%.
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