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Renault Nissan pulls out of race to acquire Ssangyong

2011-10-21

Renault Nissan Alliance’s unexpectedly pulled out from the race to acquire Ssangyong Motor Co. Tuesday, making it a three-way competition among one Korean and two Indian firms, sources said.

As the deadline for final bids for Korea’s smallest carmaker came Tuesday, India’s largest tractor maker Mahindra and Mahindra, Indian conglomerate PK Ruia Group, and Korean hat maker Young An Hat Co., which has Daewoo Bus Co. submitted their binding offers, sources said.


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By Choi Hee-suk (cheesuk@heraldm.com) | http://www.koreaherald.com
 

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