KH Philux joins Gwangrim consortium... submits letter of intent to acquire Ssangyong Motor

[Image source=Yonhap News]

[Asia Economy Reporter Seongpil Cho] KH Philux announced on the 18th that it has decided to participate in the Kwanglim consortium, which is pursuing the acquisition of Ssangyong Motor, and has submitted a letter of intent for the acquisition of Ssangyong Motor. KH Philux stated, "As of the date of submission of the disclosure documents, there are no confirmed matters regarding the acquisition of Ssangyong Motor or the acquiring entity," but added, "We will re-disclose within one month or at the time when specific details are finalized."