Fubon Financial to acquire a 24% stake in Hyundai Card from Affinity, GIC and AlpInvest for $442m.

Fubon Financial, a full-service financial holding company engaging in financial planning, banking, securities, futures and insurance, agreed to acquire a 24% stake in Hyundai Card, a provider of credit card services, from private equity firms Affinity, GIC and AlpInvest, for $442m. Fubon became one of the major shareholders of Hyundai Card, its representatives are also expected to join the card firm's board of directors in the near future, replacing those sent by previous investors.