M&M considers a bid of $400 mn for Ssangyong
As a step towards becoming a major global utility vehicles maker, Mahindra & Mahindra is considering a bid of up to $400 million for the South Korean automaker Ssangyong Motor, reveal sources. Also the three sources close to the matter said that the company which lost out to Tata Motors for Ford Motor Co's luxury brands Jaguar and Land Rover in 2008, is now very serious about making a competitive bid ahead of next Tuesday's deadline. A company official said that they have every intention of making a bid.
Ritesh
Published On Aug 07, 2010 15:31 IST
Published OnAug 07, 2010 15:31 IST
Last Updated OnAug 07, 2010 15:31 IST
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Mahindra and Mahindra is among the six bidders who have been shortlisted for making a bid for Ssangyong. This South Korean automaker Ssangyong Motor has been under court-led restructuring since early 2009. The other bidders in this matter include Renault-Nissan alliance and Kolkata-based Ruia group.
The Ruia Group has told that it will decide their bid in the coming three days. Ruia Group chairman Pawan K. Ruia confirmed that they will take a final decision on the matter over the next three days.
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<p>Having worked as an Auto Journalist for the past 5 years, Ritesh is keenly passionate about digging more on automobiles and things related. His journey as a journalist so far consists of different profiles that helped him groom on various platforms within the automobiles industry. He kept rolling on technical experience during his career as a Road Test Editor, which finally took him to a level where he turned to be an Editor-in-Chief of CarDekho.com, India's no. #1 automotive giant. </p>
<p>Another side of his creative life is easily visible the photography that he carries out in order to serve the CarDekho news readers with the latest and natural pictures of newly launched cars. Additionally, he is the one who foresees all auto news articles that are to be published making it sure that CarDekho readers get the latest and the best automotive news first. "Life is a highway, keep driving", Says Ritesh.</p>Read more
