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Ssangyong Motor, Promoting ‘M&A Before Rehabilitation Plan Approval’ After Commencement of Court Rehabilitation Procedure

NSP NEWS AGENCY, By soon ki Lee Journali, 2021-04-16 09:26 END7
#SsangyongMotors #M&A #Rehabilitation #Court

(Seoul=NSP News Agency) soon ki Lee Journalist = With the decision of the Seoul Rehabilitation Court to commence the rehabilitation process, Ssangyong Motors will pursue an ‘M&A before rehabilitation plan authorization’.

Ssangyong Motor has been delayed in consultation with existing potential investors, but it decided to pursue a ‘M&A before approval of a rehabilitation plan’ with the approval of the Rehabilitation Court, considering the circumstances in which there are many prospects for acquisition.

Jeong Yong-won, currently appointed by the court, said, “As normal operation is the key to protecting the rights of creditors and rehabilitation of the company, we will discuss with our partners to resume production as soon as possible and resolve customer anxiety over the decision to initiate rehabilitation procedures through A/S.”

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Recently, as part of its move to break away from full capital erosion, Ssangyong Motor has begun to improve its financial structure through the effect of increasing assets and capital, such as re-evaluating the assets of 165 sites other than the Pyeongtaek plant.

Ssangyong Motor plans to submit an objection letter containing the improvement plan to the Korea Exchange on April 13, and resolve concerns about delisting and by attracting investors and improving its financial structure within the given improvement period.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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