AM Online

GM could add Ssangyong to GM Daewoo in Asian portfolio

GM has indicated its interest in bidding for control of Ssangong, the Korean SUV manufacturer, over 55% of the equity having been put up for sale by its Korean creditors.

If Ssangyong were to be returned to the Daewoo portfolio, which it left when Daewoo Motor was taken over by its creditors, the position of its new importer and network for the Rexton SUV in the UK would be affected. However, bids from alternative firms besides GM and another candidate already mentioned – Renault – may be received by the vendors' closing date of 11 December. Renault Samsung has no 4x4 in its single platform Korean offering.

The likely cost of acquisition based on Ssangyong's current share price is reportedly about $625 million.

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