Mahindra is the chosen bidder for Ssangyong takeover

Posted in Cars, International News, Koreans, SsangYong / By /

Mahindra has been chosen as the preferred bidder for Ssangyong Motors, and the two companies are set to sign a Memorandum of Understanding by the end of August 2010 before a due diligence process starts the following month. Mahindra will also be paying a 5% deposit for its bidding price this month.

There’s no official word on how much Mahindra’s bid is. Whatever the amount is, taking over Ssangyong isn’t going to be cheap, and then there is also the question of the huge amount of debt the South Korean SUV maker has. Renault-Nissan pulled out due to high costs, and Mahindra was picked over Indian tyre maker Ruia Group and South Korean company Young An Hat Co Ltd, the owner of Daewoo Bus.

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Paul Tan

After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history.

 

Comments

  • Jimmy on Aug 12, 2010 at 11:08 pm

    Cantiq! Quite similar to the new Sportage. But…, who is going to service and take care of your car in the next 10 years. Spare parts??

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  • FF on Aug 12, 2010 at 11:56 pm

    cantik

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  • ddd on Aug 13, 2010 at 2:33 am

    Indian and Chinese are comming.
    there is no seat for proton and malaysia auto industry.

    How about proton buy ssangyong?

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    • acerman on Aug 13, 2010 at 9:20 am

      ssyong also use merc engine, than what sort of benefit will proton get if they bought ssangyong?

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    • tikus on Aug 13, 2010 at 9:41 am

      Buy ssangyong simple mah…just 1 buck like proton sell MV Agusta. The world most cheapo deal of selling a company.

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  • thgh on Aug 13, 2010 at 5:25 am

    Hope it wont had the problem with pricing like the Ssangyong Stavic again.

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  • will-kill-for-exclusivity on Aug 13, 2010 at 7:51 am

    wow

    this sangyong doesnt look ugly

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  • rexis on Aug 13, 2010 at 8:43 am

    I kinda like Rexton until i realized that its a Korean. Now its an Indian Korean…

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    • acerman on Aug 13, 2010 at 9:18 am

      No, almost all the car manufacturer is khawin campur.

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      • zoro on Aug 13, 2010 at 10:14 am

        hahaha idian-korean… that’s very nice name… weird….!!.. nway good to u mahindra…. seems like idian company have a lot of cash…

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  • fatcat on Aug 13, 2010 at 9:14 am

    Now Mahindra is following the foot step of TATA. Tak Mau kalah. Does mahindra as rich as TATA ?

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  • taufic on Aug 13, 2010 at 11:18 am

    hi paul
    i got some video about a sorento with some tape on just now
    wanna share with guys
    how?

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    • will-kill-for-exclusivity on Aug 15, 2010 at 4:12 am

      just upload it over youtube

      and then post the link here

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