According to market buzz; M&M, the utility vehicle leader in India is looking to bid for Korean SUV maker Saangyong Motor. M&M is one of India’s great auto stories looking to expand its global footprint is sitting on very healthy cash and keen to acquire potential companies bringing synergies to its portfolio and strategic road map. The most popular brand of M&M SUV, Scorpio is slated to debut in USA as a pickup this year.
Saangyong is 4th largest auto maker of South Korea, however went through rough patches due to the global slowdown. Saangyong is potentially looking for a financial revival.
Monday, April 26, 2010
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