South Koreaâ€™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 Chinaâ€™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 Ssangyongâ€™s common shares. The remaining 71.1% of the common stock would be issued to creditors under a ...
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