ID :
105699
Wed, 02/10/2010 - 09:24
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Shortlink :
https://www.oananews.org//node/105699
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Ssangyong Motor picks lead manager for stake sale
SEOUL, Feb. 10 (Yonhap) -- Ssangyong Motor Co., which has been under bankruptcy protection for nearly a year, said Wednesday it has named a group led by Samjung KPMG Advisory Inc. as the arranger for the sale a majority of its stake.
Ssangyong, the smallest automaker in South Korea, was placed under bankruptcy
protection in February last year, becoming the nation's first major corporate
victim from the global financial crisis.
The sale of a controlling stake in Sssangyong is critical for the automaker to be
able to stand on its own feet, though many analysts remain skeptical over the
near-term future of Ssangyong due to the company's line-up of expensive
sport-utility vehicles.
The group led by Samjung KPMG includes the local unit of Macquarie Group Ltd. and
local law firm Shin & Kim, Ssangyong said in a regulatory filing.
(END)
Ssangyong, the smallest automaker in South Korea, was placed under bankruptcy
protection in February last year, becoming the nation's first major corporate
victim from the global financial crisis.
The sale of a controlling stake in Sssangyong is critical for the automaker to be
able to stand on its own feet, though many analysts remain skeptical over the
near-term future of Ssangyong due to the company's line-up of expensive
sport-utility vehicles.
The group led by Samjung KPMG includes the local unit of Macquarie Group Ltd. and
local law firm Shin & Kim, Ssangyong said in a regulatory filing.
(END)
