South Korea’s Ssangyong Motor Co. Ltd. submitted its revival plan to the Seoul Central District Court Tuesday, where it seeks to reduce the current majority ownership of China’s Shanghai Automotive Industry Corp. from 51.3% to just 11.3% and cut the 48.7% combined stake of all other shareholders to just 17.7%. After the conversions, all current shareholders, combined, would hold 28.9% of Ssangyong’s common shares. The remaining 71.1% of the common stock would be issued to creditors under a ...

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