SsangYong Motor Co., currently under court receivership, is expected to select a lead manager as early as this week to find a new investor, industry sources said Tuesday.
U.S. vehicle importer HAAH Automotive Holdings Inc. reportedly remains among the potential bidders though it failed to submit a letter of intent (LOI) to a bankruptcy court to acquire the financially troubled carmaker.
Under court receivership, SsangYong’s survival depends on whether there will be a new investor to acquire a streamlined SsangYong Motor after debt settlement and other restructuring efforts.