SEOUL (Reuters) - The chairman of Hyundai Motor Co (KS:005380) and his son are on track to sell all of the 13 percent stake in logistics and shipping affiliate Hyundai Glovis Co Ltd (KS:086280) offered in a block deal worth about $1 billion (0.66 billion pounds) on Thursday, a person with direct knowledge of the matter said.
The person said prices were not finalised yet, after the two offered some 5.02 million shares in Hyundai Glovis at a price range of 227,500-232,500 won each.
The person declined to be identified as the details were confidential.
Hyundai Motor could not be immediately reached for comment.