India Mahindra, Ruia submit bids for Ssangyong: Yonhap | business | Hindustan Times
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India Mahindra, Ruia submit bids for Ssangyong: Yonhap

business Updated: Aug 10, 2010 16:05 IST

Three groups including India's Mahindra have made binding offers to buy the troubled South Korean car maker Ssangyong Motor Co, Yonhap news agency reported on Tuesday.

But Renault-Nissan has not submitted a bid for the cash-strapped sport utility vehicle maker, Yonhap quoted Samjong KPMG and Macquarie Group, which are handling the sale, as saying. A South Korean company has submitted a bid for Ssangyong, Yonhap added.

Six groups including Renault-Nissan and Mahindra have been reviewing Ssangyong's books for a deal worth up to $500 million.