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Mahindra says in discussion with potential investor to sell majority stake in SsangYong Motor

Mahindra says in discussion with potential investor to sell majority stake in SsangYong Motor Top Searches Mahindra says in discussion with potential investor to sell majority stake in SsangYong Motor PTI / Jan 1, 2021, 19:17 IST FacebookTwitterLinkedinEMail (Representative image) NEW DELHI: Mahindra & Mahindra (M&M) on Friday said it is in discussions with a potential investor to sell its majority stake in South Korean arm SsangYong Motor Company (SYMC) which has already filed for bankruptcy, and expects to sign a non-binding agreement next week. The Mumbai-based auto major, which currently holds nearly 75 per cent in the Korean firm, expects to finalise the deal by February end.

Mahindra likely to sign term sheet with new SsangYong investor next week

Mahindra likely to sign term sheet with new SsangYong investor next week by Mayank Dhingra 01 Jan 2021 India s Mahindra & Mahindra, which holds a majority 74.65 percent stake in Korean carmaker SsangYong Motor Company (SYMC) has divulged that it is in talks with a new investor to give up its charge of South Korea s fourth-largest carmaker, albeit one which has been struggling to cope up with the recent dynamics in the global business environment. In a regulatory filing on December 15, M&M had reported that its subsidiary had missed repaying Rs 408 crore loan dues to JP Morgan Chase Bank after which SYMC filed for a court receivership in South Korea.

صدى البلد: فولكس تيجوان ورينو داستر يتصدران أفضل سيارات الـ SUV لعام 2020

صدى البلد: فولكس تيجوان ورينو داستر يتصدران أفضل سيارات الـ SUV لعام 2020
elbalad.news - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from elbalad.news Daily Mail and Mail on Sunday newspapers.

This Week In Auto: 2020 Was A Forgettable Year, Welcome 2021?

This week in Auto: 2020 was a forgettable year, welcome 2021? Here is a complete look at all other stories that made headlines in the auto space December 26, 2020 / 10:16 AM IST The year 2020 will go down as year like no other. From zero sales in April to factories hitting peak capacities in October – all within a span of seven months – 2020 has been a tumultuous year for the auto industry. In today’s final wrap of the year we take a look at what 2020 brought with itself. But first here is a complete look at all other stories that made headlines in the auto space.

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