Mahindra takes over Ssangyong for Rs. 2,100 crores!

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Mahindra & Mahindra’s ongoing bid for the buy-out of Ssangyong Motors from Korea has finally reached its valuation and the deal has been inked last evening at $ 463.6 million which translates to Rs. 2,100-crore (approx, by current exchange rates). Industry experts claim that this value has been a ‘steal deal’ for Mahindra and should help Mahindra get a head start into emerging markets like Russia, where Ssangyong has a strong presence. The deal will be closed by March 2011 and as Mahindra states, this partnership is like a match made in heaven, with the Indian carmaker’s ability to supply both cash and marketing grunt that should go hand-in-hand with Ssangyong’s technological prowess. The Rs. 2,100-crore deal will now give Mahindra & Mahindra a 70% controlling stake in Ssangyong Motors. Congratulations Mahindra!

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  • ads says:

    I dont care about indian bike makers any more. the only high capacity ones are made by an ageing manufacturer and there are plenty of idiots who want to be macho hence they buy the RE's. Likewise RE know that such fools are there in this country might as well milk the cow.

    On the other hand suzuki and hh and yamaha want to concentrate on this <150 segment where it is already saturated with models.. who cares if you buy a discover or zeus or alba.. if i were to buy a commuter i would buy the cheapest 100 around!

    Its like everyone knows you are a cheapskate.. if you wear a coat you will not look rich or more successful.. you will only look like a foolish cheapskate.

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