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Hanwha to sell half of stake in electric truck maker Nikola

Sumary of Hanwha to sell half of stake in electric truck maker Nikola:

  • Hanwha Group, a South Korean energy-to-defense conglomerate, plans to sell half of its stake in US electric truck maker Nikola Corp., the two companies said Thursday…
  • Green Nikola Holdings, Hanwha’s US subsidiary that holds a 5.65 percent share in Nikola, plans to sell up to 11.1 million shares over a six-month period from June, according to a US Securities and Exchange Commission filing…
  • Hanwha’s stake in Nasdaq-listed Nikola is worth about $180 million as of Wednesday’s closing price of $16.39 a share…
  • In 2018, two of Hanwha’s subsidiaries invested about $100 million in Nikola, and its petrochemical subsidiary, Hanwha General Chemical Co., plans to sell its stake to secure funds for hydrogen-related businesses, company officials said….

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