M&M to decide on SsangYong this July

SsangYong Motor, South Korean SUV maker is up for sale in the intenational market. SM has shortlisted six bidders for the same. These bidders include MM(Mahindra Mahindra), the Ruia Group and also a Nissan-led consortium. SM has also extended the deadline to August 10 for submission of bids.

Mahindra Mahindra has also called an important as well as special board meeting regarding the acquisition of SsangYong Motor. The meeting will take place on July 15 and the decision will be taken regarding the South Korean firm SM.

SangYong is known for making SUV, that is, the sports utility vehicles. It is also involved in the manufacturing recreational vehicles (RV). A source said that MM has called the board meeting only with the purpose of discussing the bid for SsangYong. If the decision goes positive for acquisition, then the amount will also be discussed,added the source. An MM spokesperson also said that they were undertaking the due diligence on SsangYong and a decision will be taken to bid at an appropriate time.