Ssangyong Motor: Mahindra and HAAH negotiations broke down: in Stalemate
Ssangyong Motor:
Mahindra and HAAH have suspended Ssangyong Motor sales negotiations, according to the industry on January 25.
“Both companies were unable to fill the gap in terms of sale,” he said.
Mahindra Group of India, a major shareholder of Ssangyong Motor, has withdrawn from negotiations to sell Ssangyong Motor.
(JoongAng Ilbo Japanese version) –Yahoo! News
https://news.yahoo.co.jp/articles/0085b5d738e3fc2b8d6490df1b0dda8b727dda00
SsangYong Motor to Delay Wage Payment to Workers
The management of SsangYong Motor
told the labor union on Jan. 21 thatit is difficult to pay some of the employees’ wages in January and February.
The notice came one day before the start of the negotiations on the sale of the struggling company.
Businesskorea
http://www.businesskorea.co.kr/news/articleView.html?idxno=59013
Talks on SsangYong Motor in Stalemate
Mahindra & Mahindra,
HAAH Automotive Holdings and
the Korea Development Bank (KDB)
are failing to reach an agreement on whether Mahindra & Mahindra has to remain in SsangYong Motor as a shareholder.
HAAH is a potential SsangYong acquirer and the KDB is the main creditor bank to SsangYong.
The four sides
had a meeting on Jan. 12 and reconfirmed their different views.
The current issue is whether Mahindra & Mahindra has to maintain its position as a shareholder after the management rights are transferred to HAAH.
Businesskorea
http://www.businesskorea.co.kr/news/articleView.html?idxno=58639