South Korean car maker Hyundai Motor Co said on Tuesday General Electric seeks to sell out of its 20 per cent stake in their joint venture, unlisted lender Hyundai Capital, to a third party.

It did not offer any details.

Hyundai Motor and affiliate Kia Motors in December agreed to buy a 23.3 per cent stake in Hyundai Capital from GE for 703 billion won ($610.15 million). Hyundai said at the time it could buy the remaining 20 per cent GE has in Hyundai Capital in the future.

Hyundai and Kia now own nearly 80 per cent of Hyundai Capital. - Reuters