RPT-UPDATE 1-Creditors pick China Blue Star to buy Ssangyong

Newswire

(Recasts to clarify first paragraph) SEOUL, Dec 22 (Reuters) - Creditors of South Korea's Ssangyong Motor have picked China National Blue Star Group as a preferred bidder to buy a controlling stake worth about $620 million in the sport utility vehicle maker. Winning out over General Motors Corp and other interested global car makers, creditors of Ssangyong signed a memorandum of understanding with the Chinese chemicals conglomerate on Monday, giving it an exclusive right to buy a 55.4 ...

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