China’s Shanghai Automotive Industry Corp. (SAIC) completes a deal today to buy a 48.9% stake in South Korea’s Ssangyong Motor Co. Ltd. for $522 million, Reuters reports. Ssangyong, which makes light trucks, has been for sale since 1999, when creditors took over the company from bankrupt parent Daewoo Motor Co. Ltd. SAIC, which is a major joint venture partner with both General Motors Corp. and Volkswagen AG in China, was designated the preferred bidder in July, after a deal to sell ...

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