MUMBAI – India’s Mahindra & Mahindra Ltd. sign a memorandum of understanding Monday to take a majority stake in South Korean utility-vehicle maker Ssangyong Motor Co. Ltd., which has been under bankruptcy protection since July 2009. Ssangyong has filed papers with the Korean stock exchange to declare the transaction. Financial details of the deal have not been disclosed. Mahindra says in a statement it has more than $500 million in cash reserves and a debt to ratio of 30%, one of ...

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