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Ruia Group to bid for south Korean SsangYong Motor
10 August 2010: The Ruia Group is likely to submit bid to buy out South Korea based SsangYong Motor Company.
The Ruia Group and Mahindra & Mahindra are the two Indian corporations among the six suitors shortlisted to bid for the bankrupt South Korean firm SsangYong Motor. The other firms are in the race are South Koreas private equity fund Seoul Invest, Daewoo Bus and Renault-Samsung. The last date for bid submission is 10 August 2010.
Ssangyong, which has about two percent of the South Korea’s market, exports to Russia, Europe, China, Middle-East, Africa, North and South America and the Asia-Pacific.
Source: WebIndia123