Ssangyong Motor Starts 'Stalking Horse' Process... Letter of Intent Deadline June 9

The Acquisition Proposal Deadline is June 24 at 3 PM

[Image source=Yonhap News]

[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.

This content was produced with the assistance of AI translation services.