China SAIC to buy Ssangyong for $500 mln-accountant


SEOUL, Oct 28 (Reuters) - Shanghai Automotive Industry Corp. (SAIC) will buy South Korea's Ssangyong Motor Co. for about $500 million, an accountant involved in the deal said on Thursday. SAIC will buy a controlling 48.9 percent stake in Ssangyong, a sport utility vehicle maker, for 10,000 won ($8.88) per share from Ssangyong's creditors, Samil PricewaterhouseCoopers said in a statement. ($1=1126.0 Won)

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