China Blue Star is top bidder for Ssangyong-report

Newswire

SEOUL, Dec 21 (Reuters) - Creditors of South Korea's Ssangyong Motor Co have approved chemicals conglomerate China National Blue Star Group's bid for a controlling stake in the sport utility vehicle maker, Yonhap News Agency said on Sunday. The agency said the Chinese group had the best bid for a 55.4 percent stake in cash-strapped Ssangyong , but it did not give details. The stake is worth $620 million based on current market price. The creditors were not available for comment. "It ...

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