Ssangyong creditors to pick top bidder next month

Newswire

SEOUL, June 30 (Reuters) - Creditors of Ssangyong Motor Co plan to pick a preferred bidder for the sale of the Korean car maker and sign a binding preliminary pact next month, a bank official said on Wednesday. China's Shanghai Automotive Industry Corp and three other foreign investors have submitted bids for the acquisition of Ssangyong Motor , Chun Hyung-jin, a Chohung Bank official in charge of the deal, told Reuters. "We are in the process of reviewing proposals from four bidders, ...

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