Hyundai Motor Cuts Its Offer

SEOUL—South Korean conglomerate Hyundai Motor Group reduced its offer for a controlling stake in Hyundai Engineering & Construction Co. to 4.97 trillion won ($4.47 billion), an executive at one of the selling companies said, bringing the drawn-out sale closer to completion.

The executive said Friday that Hyundai E&C's creditors-turned-shareholders will decide this week on the final sale price for their collective 34.88% stake in the country's largest builder by revenue. The conglomerate's revised offer followed an initial bid of 5.1 trillion won.