• Nov 23, 2010
Indian automaker Mahindra & Mahindra has officially sunk its teeth into South Korean automaker Ssangyong to the tune of $463.6 million. For that low, low price Mahindra has effectively walked away with a 70 percent controlling stake in Ssangyong through the purchase of newly released shares in the company and existing corporate bonds. The move follows up on a pact to acquire Ssangyong that Mahindra signed earlier this year, and according to The Wall Street Journal, the two companies look to close the deal by March of next year.
According to Mahindra, the match is a partnership made in heaven, with the Indian carmaker able to supply both cash and marketing grunt that should mesh well with Ssangyong's technological prowess.

We're guessing that the South Korean carmaker is just glad to have someone to help pull it out of the throws of bankruptcy.

[Source: The Wall Street Journal - sub. req.]


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  • 10 Comments
      • 4 Years Ago
      ew - is that the oldsmobile logo?
      • 4 Years Ago
      "throes" of bankruptcy ...
      • 4 Years Ago
      um, so where's my Pikup.......
      • 4 Years Ago
      They get a new lease on life.
      • 4 Years Ago
      Ssangyong might not be anywhere near a 1st-tier car maker, but this still looks like a heck of a deal with Mahindra... $500M in the car world is nothing.

      But for Ssangyong's sake, let's hope this deal isn't as "shady" as the one that Mahindra had with US dealers when they tried bringing in that diesel Pik-up to the US.
      • 4 Years Ago
      "Ssangyong's technical prowess"-I'm not sure if they're really known for technical prowess exactly.
        • 4 Years Ago
        I think they are pretty good at 4WD cars and trucks...
        their chairman is not bad either for being a 20 year old mercedes..
        • 4 Years Ago
        Well you wouldn't be buying them for their "design prowess" lol
      • 4 Years Ago
      So, this is where all the money went from the US dealers buying in to carry the Mahindra line that was suppose to arrive some time ago. Very interesting!