S.Korea's Daewoo Motor suppliers to meet lenders

Newswire

SEOUL, Aug 26 (Reuters) - Daewoo Motor Co, South Korea's third largest automaker, said on Monday representatives of its 180 parts suppliers would meet creditors later in the day to seek over one trillion won ($833.3 million) in overdue payment. In April, GM agreed to invest $251 million in a joint venture with Daewoo's creditors, which would give the world's biggest automaker a 42.1 percent stake -- the largest -- while its business partners hold 24.9 percent. GM also agreed to provide ...

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