Mahindra-owned SsangYong puts controlling stake up for auction

Synopsis
The Korean auto major, which is 75% owned by Mahindra, is under court receivership since April after it failed to rollover loans worth $148 million from creditors such as the state-run Korea Development Bank (KDB) and several other banks.
Agencies
Cash strapped Korean car maker SsangYong Motor has put up a controlling stake for auction as it looks to bring on board a new investor to take charge of the company. SsangYong Motor is currently undergoing a court receivership process after parent company, India’s
Mahindra & Mahindra, failed to bring in a buyer over the last one year after announcing it would make no further investment in SsangYong.

Related Keywords

Seoul ,Soult Ukpyolsi ,South Korea ,India ,Korea ,Bahram Vakil ,Shin Kim ,Chris Hosford ,Korea Development Bank ,Seoul Bankruptcy Court ,Ssangyong ,Cash Strapped Korean ,Ssangyong Motor ,Edison Motors ,சியோல் ,தெற்கு கொரியா ,இந்தியா ,கொரியா ,பஹ்ரம் வக்கீல் ,தாடை கிம் ,கிறிஸ் ஹோஸ்போர்ட் ,கொரியா வளர்ச்சி வங்கி ,சியோல் திவால்நிலை நீதிமன்றம் ,ஸ்சங்கியோங் ,ஸ்சங்கியோங் மோட்டார் ,எடிசன் மோட்டார்கள் ,