Mahindra to begin final price talk for Ssangyong.
Mahindra & Mahindra's (India) will begin the final discussion on undertaking the non profit South Korean Carmaker Ssangyong Motor in this week. Mahindra a 6.7 billion US Dollar company having a presence in the leading sectors and making public utility vechiles since 1945 was chosen to bid for the Ssangyong, the SUV manufacturer.
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Ssangyong Motor said on Tuesday, Mahindra completed due diligence in September as scheduled, and plans to start price negotiations this week when its working-level officials plan to visit South Korea along with its Vice Chairman, Anand Mahindra , a spokesperson at Ssangyong said. We plan to sign a main deal in early November or December.
Enjoying the diverse customer base in the different parts of the world and a forerunner in the automotive sector Mahindra will offer its price for Ssangyong in August. Recession hit the Ssangyong SUV market and since January 2009, it has been restricted under the court. Having successful ventures in the international market such as Mahindra Reanult (MRPL), Mahindra Navistar Automotives Ltd (MNAL) and more, Mahindra is looking forward to acquire major stakes of Ssangyong which is currently in debt.
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