UPDATE 3-Shanghai Auto named top bidder for Ssangyong Motor


(Adds Shanghai Automotive, union comments, updates shares) By Lee Bong-hyun and Kim Kyoung-wha SEOUL, July 23 (Reuters) - Creditors of South Korea's Ssangyong Motor on Friday picked China's Shanghai Automotive Industry Corp. as preferred bidder to buy a $360 million majority stake in the sports utility vehicle maker. Ssangyong has been up for sale since creditors took control of the debt-ridden Korean auto maker in 1999, when its parent Daewoo Group failed under a mountain of debt. ...

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