Aptiv is a ~$21B market cap company and Hyundai didn't buy any portion of Aptiv (as far as I know).
Hyundai and Aptiv were joint venture owners of Motional (50/50). Motional is privately held and worth around $4B or $5B. Hyundai bought out some of Aptiv's stake and also invested some more in Motional. Hyundai spent ~$1B.
I cannot edit this anymore. Yes, meant that the control Aptiv had over Motional will now be with Hyundai, practically.
The point I was trying to make was that this was titled in Aptiv's Q1 presentation [1] as "APTIV EQUITY INTEREST TO BE REDUCED FROM 50% TO 15%". That is, they will offload most of the control to Hyundai. Immediately, Aptiv shares rose. So for some reason, this is seen as a good thing by Aptiv shareholders.
My point was and is: Considering the above aspect, it will be interesting to see how Hyundai will make use of it.
harambae|1 year ago
Hyundai and Aptiv were joint venture owners of Motional (50/50). Motional is privately held and worth around $4B or $5B. Hyundai bought out some of Aptiv's stake and also invested some more in Motional. Hyundai spent ~$1B.
pdevr|1 year ago
The point I was trying to make was that this was titled in Aptiv's Q1 presentation [1] as "APTIV EQUITY INTEREST TO BE REDUCED FROM 50% TO 15%". That is, they will offload most of the control to Hyundai. Immediately, Aptiv shares rose. So for some reason, this is seen as a good thing by Aptiv shareholders.
My point was and is: Considering the above aspect, it will be interesting to see how Hyundai will make use of it.
[1] https://s22.q4cdn.com/336558720/files/doc_presentations/2024...
jcrben|1 year ago