Ssangyong Motor

SsangYong Motor announced on the 13th to select the KG Consortium as a prospective takeover company with the consent of the court in Korea.

SsangYong Motor and EY Hanyoung Accounting Corporation conducted a comprehensive evaluation focusing on▲size of the acquisition price▲paid-in capital increase ratio and required share ratio▲plan to secure operating funds after the acquisition (scale and method of procurement)▲employment guarantee period.  In particular, taking the M&A failure with Edith Motors deal, the acquisition price and post-acquisition operating funds size were evaluated as well as the proof of procurement of the proposed financing plan and the type of input.Before the announcement of the M&A, Ssangyong Motor plans to sign a conditional investment contract with the KG consortium, which is expected to take over, during the next week, and after that, the public sale process is scheduled to proceed.