The Acquisition Proposal Deadline is June 24 at 3 PM
[Asia Economy Reporter Hwang Yoon-joo] Ssangyong Motor announced on the 31st that it will begin the sale process through a public competitive bidding method (stalking horse) with a prospective buyer.
Letters of intent to acquire will be accepted from June 2 until 3 PM on June 9.
Acquisition proposals will be accepted until 3 PM on June 24.
Ssangyong Motor stated that it will complete the sale through the process of public sale announcement → deadline for submission of letters of intent (LOI) related to the public sale → selection of the final prospective buyer and signing of the investment contract.
However, it added that the sale process may change depending on approval procedures and consultations with related agencies.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
