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Court OKs SsangYong’s Rehabilitation Plan, Puts Debt-ridden Carmaker on Track to Normalcy

Court OKs SsangYong’s Rehabilitation Plan, Puts Debt-ridden Carmaker on Track to Normalcy

SEOUL, Aug. 26 (Korea Bizwire) — A Seoul court on Friday approved SsangYong Motor Co.’s rehabilitation plan with “overwhelming” support from creditors and other related parties, paving the way for the carmaker to get its business back on track. The approval, which came one month after SsangYong submitted its restructuring plan to the Seoul Bankruptcy [...]

Court Approves KG Consortium as Final Bidder for SsangYong

Court Approves KG Consortium as Final Bidder for SsangYong

SEOUL, June 28 (Korea Bizwire) — A Seoul court on Tuesday approved SsangYong Motor Co.’s decision to select a local consortium led by chemical-to-steel firm KG Group as the final bidder for the debt-laden carmaker. In the latest auction, the KG consortium beat underwear company Ssangbangwool in the overall criteria of acquisition prices, fundraising plans [...]

3 Firms Submit Bids for SsangYong Motor Acquisition

3 Firms Submit Bids for SsangYong Motor Acquisition

SEOUL, April 18 (Korea Bizwire) — Three firms have submitted their bids to acquire the debt-ridden automaker SsangYong Motor Co., sources here said Monday, after a previous sales deal with a local electric vehicle maker fell apart. Local underwear company Ssangbangwool Group, chemical-to-steel conglomerate KG Group and homegrown private equity (PE) firm Pavilion PE submitted [...]