Hyundai Motor Group intends to buy SoftBank Group’s remaining 9.65% holding in Boston Dynamics for $325 million, according to a report by South Korea’s Maeil Business Newspaper. If completed, the transaction would transform Boston Dynamics into a wholly owned subsidiary of the Hyundai Motor Group.
The newspaper cited unnamed industry sources in saying Hyundai Motor expects to hold a board meeting on June 22 to approve the acquisition. The report added that SoftBank had informed Hyundai it planned to exercise a put option that was established as part of the earlier agreement when Boston Dynamics was sold to Hyundai.
The report noted that Hyundai Motor Group already controls just over 90% of Boston Dynamics through holdings associated with Group Executive Chair Euisun Chung and affiliated companies, specifically Hyundai Motor, Kia, Hyundai Mobis and Hyundai Glovis. The purchase of the remaining stake for $325 million would consolidate Hyundai’s full ownership.
Representatives for Hyundai Motor and SoftBank did not immediately respond to requests for comment, the report said.
Summary of the transaction details
- Remaining stake to be acquired: 9.65% held by SoftBank Group.
- Purchase price reported: $325 million.
- Next step: Hyundai Motor board meeting expected on June 22 to consider approval.
The reported exercise of a put option by SoftBank is the contractual mechanism cited for the sale of the remaining shares. The report attributed these details to unnamed industry sources and did not present direct statements from either company.
As reported, Hyundai Motor Group’s existing ownership - spanning the executive chair and several affiliates - already exceeds 90%, meaning the reported transaction would mark the final step in consolidating ownership.
Coverage of the matter remains limited to the newspaper account, and the absence of on-the-record responses from Hyundai and SoftBank leaves the timing and formal confirmation of the purchase dependent on the expected board action and subsequent corporate announcements.