SsangYong sale turns murky on stalled Mahindra-HAAH Automotive talks

Seo Dong-cheol and Lee Ha-yeon 2021. 1. 25. 11:00
글자크기 설정 파란원을 좌우로 움직이시면 글자크기가 변경 됩니다.

이 글자크기로 변경됩니다.

(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.

[Photo by Lee Seung-hwan]
The chance of troubled South Korean carmaker SsangYong Motor Co. finding new investor before grace period from the bankruptcy court goes up by the end of next month has become dimmer as talks are being delayed due to pricing differences.

Its parent India’s Mahindra & Mahindra has failed to reach an agreement with a potential buyer by the mutually agreed deadline of last week.

A council of four related parties – SsangYong Motor, creditors, Mahindra & Mahindra, and potential buyer, U.S.-based import car distributor HAAH Automotive Holdings – earlier was aimed to reach a settlement until Jan. 22 to finish the talk over stake sale.

The Indian car-making group and HAAH Automotive Holdings, however, could not reach on an agreement by the target date after failing to iron out the differences over terms, according to industry sources and SsangYong Motor’s unionized workers on Sunday.

SsangYong has been given until Feb. 28 to solve its default crisis or otherwise would be placed under court receivership. The Indian car-making group maintains to phase out of Korea.

It currently owns a 75 percent stake in the SUV-focused Korean car producer and is aiming to lower the stake to below 30 percent and retire up to 25 percent after stake sale.

[ⓒ Maeil Business Newspaper &, All rights reserved]

Copyright © 매일경제 & 무단 전재, 재배포 및 AI학습 이용 금지

이 기사에 대해 어떻게 생각하시나요?