Renault, Nissan and Renault Samsung joint bid for Korea SsangYong
Economic observation network (billboards) 6/7 Japan, France car company Renault officially confirmed that the company and its partners ― car, Nissan and Renault in Korea subsidiaries Renault Samsung motor company Korea joint acquisition of SsangYong motor company.
It is reported that Renault company spokesman said the company had submitted a letter of intent for the acquisition, the spokesman also said that the six companies nominated for the US Auto Auction party. Reynolds company holding Korea Samsung Renault 70% of the shares.
2005, Shanghai Automotive has funded the $ 500 million acquisition of SsangYong 51.33% stake. But double Dragon car trade union challenged the SAIC transfer technology, companies continue to have problems, several cut-off, declining car sales leads to deterioration of the financial situation, into bankruptcy. In January 2009, SAIC refuse additional investment, SsangYong motor to Korea Court bankruptcy protection programs and the application has been approved. Then the Dragon cars will be worth KRW 3933 billion of debt to equity, SAIC holds equity result from 51.33% to 11.2%. SAIC in media interviews, said that for the next Dragon buyers choice, Shanghai Automotive and does not have the right, at our discretion, but it does not "will not be completely exit the Dragon" stance.
(Economic observation network)