Mahindra said eyeing Korea's Ssangyong | autos | Hindustan Times
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Mahindra said eyeing Korea's Ssangyong

autos Updated: Apr 26, 2010 23:04 IST
Mahindra Group

Mahindra Group has expressed interest in buying South Korea's cash-strapped Ssangyong Motor Co, a South Korean newspaper reported on Monday.

Mahindra Group recently sent a letter to Ssangyong saying it wanted to acquire management rights in the firm, the Korea Economic Daily said, without citing sources.

The group's unit Mahindra & Mahindra, India's top utility vehicle and tractor maker, is expected to buy Ssangyong, the paper quoted industrial sources as saying.

A Ssangyong spokesman declined to comment on the report while Mahindra officials were not available for comment.

A South Korean court backed Ssangyong's rescue plan last December, which was opposed by its majority owner, China's SAIC Motor Corp.