Also, the Hyundai Motor Group (HKSE:005389) announced late in the quarter a major restructuring plan in an effort to streamline its complex ownership structure in response to pressure from the Korean government to reform powerful chaebols (family run conglomerates). The plan consists of a series of complex transactions that reorder the controlling family’s ownership interests. We are currently actively discussing with the Hyundai group the proposed transactions and evaluating the associated impact on the underlying intrinsic values of our holdings.
From Tweedy Browne (Trades, Portfolio)'s first-quarter 2018 shareholder letter.
