Mahindra's due diligence on Ssangyong to start soon

Mahindra and Mahindra, is speculated to start the audit for prospected investment in the South Korean auto major Ssangyong Motor within two days. The plan comes as a company's step to enhance and expand its operation overseas.

Mr. Goenka, from M&M, the country's largest sports utility manufacturer, expressed his enthusiasm quoting that Ssangyong is expected to be a good fit for the company as the investment is supposed to open doors for newer markets.

Ssangyong, is supposedly offering buyers across Asian and Russian markets, access in its stakes. The company entered bankruptcy protection in February 2009, and presently 7 parties from these markets have already expressed their interest in controlling a stake in the South Korean auto maker assessed at, at least 700 billion won.