Shanghai Automotive seen buying Ssangyong - report

Newswire

SEOUL, June 29 (Reuters) - Creditors of South Korea's Ssangyong Motor Co are expected to sell the sport utility vehicle maker to a Chinese car maker, the Maeil Business Newspaper said in its early Wednesday edition. The newspaper quoted a high-ranking creditor bank official as saying Shanghai Automotive Industry Corp has been the strongest among seven to eight candidates for the takeover of Ssangyong Motor. "We are giving a final look at terms of Shanghai's takeover proposal," said an ...

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