A U.S. automotive distribution company may submit a binding offer to acquire a stake in SsangYong Motor Co. next month as the carmaker’s Indian parent looks for an investor, media reports said Thursday.
If Samjong gives no opinion on SsangYong’s annual financial statements for the year, the company can appeal the decision within a week and will be given one year to improve its financial health.
In 2011, Mahindra acquired a 70 percent stake in SsangYong Motor for 523 billion won.