Update:
Mahindra & Mahindra’s acquisition of the Korean carmaker Ssangyong Motor Co. is now official! The company has released a Press Release officially confirming the news. Click here to read the official Press Release.
Left to Right: Mr. Rajan Wadhera – Chief Executive – Technology, Product Development & Sourcing (Automotive & Farm Sector), Mr. Rajesh Jejurikar – Chief Executive – Automotive Division, Dr. Pawan Goenka, President, Automotive & Farm Sector, Mr. Anand Mahindra, Vice Chairman & Managing Director, Mahindra Group, Mr. Bharat Doshi, Executive Director & Group CFO, Mr. V.S. Parthasarathy, Group CIO, EVP – Finance and M&A, M&M and Corporate IT, Mr. Pravin Shah, Chief Executive, International Operations, Automotive and Farm Sector at the press conference in Mumbai
Mahindra & Mahindra has been announced as the preferred bidder for the buyout of the Korean carmaker Ssangyong Motor Co.! The deal itself and the reports surrounding this deal have been making news every now and then. Two days back Mahindra & Mahindra and another Indian business house, the Ruia Group submitted their offers for the buyout of the Korean firm, the details or the precise numbers however were not disclosed.
While the numbers still remain a secret, Ssangyong prefers Mahindra & Mahindra for the bid. The acquisition of the Korean car manufacturer will give Mahindra a major boost for its global operations. It will not only give M&M access to Ssangyong’s network in South Korea and Russia, but will also give the Indian carmaker a wealth of knowledge and know-how for their SUV and small-car operations, thanks to Ssangyong’s R&D exercises. Stay tuned to Motoroids as we bring you more info on this deal as and when the details are available to us.
Head over to the next page to read the official Press Release>>>