SsangYong bidding on July 15

Jul 14, 2010 |

Correspondent

Auto major Mahindra & Mahindra will convene a special meeting of its board on July 15 to decide its future course of action regarding the acquisition of its beleaguered South Korean firm SsangYong Motor. (SM), which is mainly into manufacturing of sports utility vehicles (SUV) and recreational vehicles (RV), has shortlisted six bidders, including Mahindra & Mahindra (M&M), P K Ruia-led Ruia Group and a Nissan-led consortium, to carry out due diligence by July 20. According to industry sources, homegrown M&M has convened a special meeting of its board of directors to consider the acquisition of the bankrupt SsangYong Motor.

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