Ssangyong Motor Co, in which India's Mahindra & Mahindra Ltd is a majority shareholder, aims to expand vehicle sales volume and revenue by a third in 2013 from this year
Auto major Mahindra & Mahindra today said it has entered into an agreement to acquire a majority stake in beleaguered South Korean vehicle maker SsangYong Motor Company.
Mahindra & Mahindra's board today gave nod to bid for acquiring a majority stake in beleaguered South Korea's SsangYong Motor, which is estimated to be valued around USD 500 million,
Tyre maker Dunlop's owner Pawan Kumar Ruia has submitted a bid to acquire South Korea's bankrupt SsangYong Motor, while Mahindra & Mahindra is also understood to have made a similar move.
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