An acquisition agreement to select a new owner for Ssangyong Motor, which is undergoing corporate rehabilitation, will be signed today as soon as possible.
Edison Motors, the preferred bidder for the acquisition of Ssangyong Motors, announced today that it has applied for permission to conclude an investment contract with the Seoul Rehabilitation Court, the subject of legal management of Ssangyong Motor.
He added that if the court’s permission is granted, the main contract worth 34.8 billion won will be signed this afternoon at the earliest.
In the contract, it will be stated that Edison Motors will discuss in advance where to use it instead of lending 50 billion won to Ssangyong Motors in operating capital first.
In addition, at the same time as signing the main contract, an agreement was reached to conclude a business agreement to improve the interior of Ssangyong Motors, which will be sold from next year.
Previously, Edison Motors and Ssangyong Motors were clashing with each other over the issue of prior consultation on the use of 50 billion won and sharing technical data for the production of electric vehicles.
Edison Motors must pay a down payment of 30.5 billion won at the time of signing the main contract, and prepare a Ssangyong rehabilitation plan and a balance of 274.3 billion won by March.
YTN Kang Jeong-gyu (live@ytn.co.kr)
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