2010 Mahindra And Ssangyong Joinning Forces for automaker
India's Mahindra & Mahindra may be abutting armament with South Korea's Ssangyong to allotment technology, costs and to actualize one of the better producers of SUVs in the world.
Ssangyong hasn't absolutely had the best clue almanac back it comes to adopted ownership. While China's SAIC Motor Group was at the helm, the South Korean automaker took a bend that eventually led to bankruptcy, which is area the aggregation is now. Earlier this month, Mahindra was best as the adopted applicant for Ssangyong, admitting the attempt complex in the transaction aren't accommodating to say how abundant Mahindra & Mahindra has offered for the biconcave Korean company.
Back in 2004, SAIC purchased 49-percent of Ssangyong for $500 million, but was abundantly criticized for declining to advance abundant in the partnership. Analysts about point to the abridgement of advance as the capital acumen abaft the venture's failure. Bloomberg letters that the Mahindra bid is about in the $452 actor range. Ssangyong has bazaar amount of $340 million.
