SEOUL—South Korean conglomerate Hyundai Motor Group on Tuesday signed a final agreement to acquire a controlling stake in Hyundai Engineering & Construction Co. from the builder's creditors-turned-shareholders, effectively bringing an end to the drawn-out sale process.

Korea Exchange Bank, a lead creditor, said the sale will close in early April after Hyundai Motor makes the final payment. The bank didn't disclose the final price, but the automotive conglomerate's three key affiliates—Hyundai Motor Co., Hyundai Mobis Co. and Kia Motors Corp.—disclosed through regulatory filings that they will collectively acquire the 34.88% stake in the builder for 4.96 trillion won ($4.43 billion).

The deal allows Hyundai Motor Chairman Chung Mong-koo to reclaim a piece of family lore after a bitter feud over the construction company. Hyundai Group, led by Mr. Chung's sister-in-law Hyun Jeong-eun, had initially outbid Hyundai Motor with a 5.51 trillion won bid, only to see its deal with the creditors collapse in December over questions about how that offer was being financed.

Hyundai Motor was named a preferred bidder for the stake held by nine creditors-turned-shareholders of the construction firm in January. It had initially bid 5.1 trillion won for the shares, but the price was lowered after a due diligence process to reflect factors such as asset depreciation as well as debt. According to a previous agreement, the two sides could have adjusted the price by up to 3% above or below that initial bid.

Source: The Wall Street Journal