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Automobile major Mahindra & Mahindra said on Thursday that the agreement between its South Korea-based SsangYong Motor (SYMC) and a consortium led by Edison Motors Co, where the latter was to acquire the former, has been terminated. In a regulatory filing with the BSE, Mahindra & Mahindra said that it has been informed by the receiver of SYMC that the agreement between the consortium and SYMC has been terminated by SsangYong, after consultation with the Seoul Bankruptcy Court. &...
Agreement to sell SsangYong Motor to Edison Motors-led consortium terminated: M&M
Key News Amazon to acquire full stake in JV Prione Business Services E-commerce major Amazon on Wednesday said it will acquire Prione Business Services - its joint venture firm with Catamaran, subject to requisite regulatory approvals. In August, Amazon and NR Narayana Murthy's Catamaran had announced that they will not continue their joint venture, Prione Business Services, beyond May 2022. L&T Construction bags significant order from reputed developer Larsen &...
Key News - Amazon, Larsen & Toubro Ltd, SsangYong Motor Co Ltd, Tesla Inc, Honda Motorcycle & Scooter India Ltd By ARETE Securities
SsangYong Motor, a debt-ridden automaker, has decided to sell the site of its plant in Pyeongtaek as part of self-rescue efforts, the local government said on Saturday. The company has been under court receivership since April, as its Indian parent, Mahindra & Mahindra, failed to secure a buyer for its 75 percent stake in the automaker. The city government of Pyeongtaek, 70 kms south of Seoul, said it has signed a memorandum of understanding with the court-appointed manager of Ssang...
SsangYong Motor to sell plant site in rehabilitation efforts
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