Ssangyong Motor Company Archives

M&M gets one step closer to Ssangyong, signs MoU

August 23, 2010August 20, 2014Editor

Mahindra & Mahindra announced that it has signed a memorandum of understanding with South Korea’s Ssangyong Motor Company, to acquire a majority stake in the aot-maker. Earlier, it had announced its selection as a preferred bidder for the loss-making company which sells sports utility vehicles under brands such as Rexton, New Kyron and Actyon.

Mahindra is the preferred bidder for Ssangyong

August 12, 2010August 20, 2014Editor

South Korea’s Ssangyong Motor Company announced that Mahindra & Mahindra (M&M) was the preferred bidder in its quest to find a strategic investor. It was one among six bidders for the failing auto company, whose prime attraction for bidders would be its product line-up, mainly sports-utility vehicles, and global sales network. M&M will now enter into a memorandum of understanding with Ssangyong, undertake due diligence followed by the final agreements.