BLUESTAR TO ACQUIRE SSANGYONG
AsiaInfo Services, November, 2003
AsiaInfo Services 11-21-2003 Bluestar to Acquire Ssangyong CHINA, Nov 21, 2003 (SinoCast via COMTEX) -- On November 18, 2003, China National Bluestar (Group) Corporation (Bluestar) confirmed thatit would acquire Ssangyong Motor Company (Ssangyong), South Korea's third-largest carmaker. Chonche Auto Service (CAS), oneof subsidiaries of Bluestar, will undertake the work of the acquisition. Wang Zhang, vice general manager of CAS, says that the work hasjust begun.
Ssangyong Corporation (SC) Shanghai Office tells that because South Korea's credit banks have a 55.4% stock of Ssangyong, Bluestar will negotiate the deal with them. In addition, Shanghai Huizhong Automotive Manufacturing Co., Ltd. (Huizhong) will not acquire Ssangyong. Bluestar specializes in chemical...
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