Mahindra's SsangYong close to signing binding agreement with US firm, Korean media reports

Mahindra had earlier announced that it will not make any further investments in the ailing SUV-maker and wanted to give up its controlling stake after being unable to turn around the operations of the company. The company’s board moved a special resolution at its AGM to reduce its shareholding in SsangYong to less than 50%, an indication of a new investor coming in rather than a complete sell out. Mahindra currently holds a 74.65% stake in SsangYong.

from Auto-Industry-Economic Times https://ift.tt/35CetvC