The two-drop groups re-challenge the acquisition of Ssangyong Motor.
According to the industry on the 10th, Ssangyong Motor and Sales Secretary EY Han Young Accounting Corporation closed the submission of Ssangyong Motor’s intention the afternoon. It is known that one of the two drops groups have made a letter of intent.
If the two-party groups are selected as bidding, the bid proposal must be made by 3 pm on the 24th.
Ssangyong Motor is currently reselling a conditional investment agreement with the acquisitioner and a stalking hose method that confirms the acquisition through public bidding.
The previous bidding to select the stalking hose contractor included KG Group affiliates, KG Consortium consisting of Kaktters PE and Pavilion PE, and Gwanglim Consortium, which was packed with two-party affiliates.
The contractor selected as a for acquisition is the KG Consortium. Ssangyong Motor selected the KG Consortium as a planned acquisitioner in consideration of the acquisition, operating funds, and requirements, and signed a conditional investment contract.
At the time, the KG Consortium was reported to have earned 350 billion won and the Gwanglim Consortium was a 380 billion won acquisition.
The Gwanglim Consortium offered more than 30 billion won, but it was unclear funding and was pushed out of the selection of conditions for conditional acquisitions.
The KG Consortium, which received high scores in proof of funds, will only reach 400 billion won in cash and cash assets, and will sell additional 500 billion won by selling the KG ETS Environmental Energy Division.
The bilateral group plans to offer higher acquisitions in this bid, and to evurge funding by securing financial investors (FI).
If the acquisition condition is better than the KG Consortium, which has signed a conditional investment contract, it is possible to acquire Ssangyong Motor.
An official of the two-drop group said, We will offer a higher amount than the previously presented 380 billion won.