AM Online

Ford interest in Indian Daewoo

Debt-ridden Daewoo Motors India, which has been up for sale since November 22, has now received bids from the Ashok Leyland-Sundaram Clayton combine, Rico Auto and Machino Plastics. The bidding process has been extended as firms such as Tata Engineering, Ford and the Jay Bharat Maruti group have also expressed interest.

DMI was put up for sale over its inability to repay debts owed to three financial institutions — ICICI, IDBI and Exim Bank.

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