India Mahindra, Ruia submit bids for Ssangyong: Yonhap

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.

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.

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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.