India’s Mahindra scraps SsangYong investment plan due to COVID-19 crisis
- 4 years ago
대주주 마힌드라 등 돌려…경영난 쌍용차 9년 만에 다시 기로에
Indian car manufacturer, Mahindra, will no longer invest in SsangYong Motor in order to save cash amid the COVID-19 crisis.
Mahindra said on Friday that it will no longer be able to inject any fresh equity into the Korean company...less than two months after committing to invest over 4-hundred million U.S. dollars to turn SsangYong Motor around.
Owning almost a 75-percent stake, Mahindra rescued SangYong from near-insolvency back in 2010. A special one-time infusion of up to 32-million dollars over the next three months is being considered.
Indian car manufacturer, Mahindra, will no longer invest in SsangYong Motor in order to save cash amid the COVID-19 crisis.
Mahindra said on Friday that it will no longer be able to inject any fresh equity into the Korean company...less than two months after committing to invest over 4-hundred million U.S. dollars to turn SsangYong Motor around.
Owning almost a 75-percent stake, Mahindra rescued SangYong from near-insolvency back in 2010. A special one-time infusion of up to 32-million dollars over the next three months is being considered.