Synopsis
While Mahindra wants to sell its entire 75% stake in SsangYong Motor to the potential investor, Haah, a US automotive distributor, and some existing stakeholders want the Indian automobile manufacturer to stay in as a minority shareholder and continue to support SsangYong, sources said.
Agencies
According to Seoul Bankruptcy Court, Mahindra had recently repaid 30 billion won, or about $27.1 million, owed to Bank of America.
MUMBAI: Talks between Mahindra & Mahindra, the largest shareholder of SsangYong Motor, and US-based Haah Automotive for sale of a controlling stake in the South Korean carmaker may have hit a roadblock owing to differences, people familiar with the talks told ET.