S.Korea's Ssangyong Motor creditors to rethink sale

Newswire

By Jean Yoon SEOUL, March 29 (Reuters) - Creditors of South Korea's Ssangyong Motor Co could take months to rethink the sale of the carmaker after an initial deal with a Chinese firm fell apart, bank officials and analysts said on Monday. Creditors are not expected to rush into a fresh deal, fearing their ability to extract a high price has weakened considerably after preferred bidder Blue Star failed to agree on a price. The South Korean car maker has a market value of $1 billion, but ...

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