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IN BRIEF / AUTOS

DaimlerChrysler Sells 10.5 % in Hyundai

August 17, 2004|From Associated Press

DaimlerChrysler said it sold its 10.5% stake in South Korea's Hyundai Motor Co., for more than $900 million.

DaimlerChrysler bought the stake for $484 million in 2000 and 2001, a spokesman said. The sale was expected after the two companies said this year that they wanted to scale back their relationship.

DaimlerChrysler shares rose 98 cents to $42 on the NYSE.

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