The advance rehabilitation plan and the P plan promoted by Ssangyong Motors are in trouble.
As the final investment decision of HAAH Automotive, a leading investor, has been delayed, the possibility of legal management is also emerging.
The Seoul Rehabilitation Court demanded that Ssangyong Motors submit a letter of intent for investment by the 31st of this month, the deadline for an amendment order.
Although the deadline for submitting the letter of intent is imminent, there is still no news of HAAH Automotive's investment decision.
It is known that one strategic investor of HAAH Automotive is in Canada and two financial investors are in the Middle East.
The content of the P plan is to reduce the current 75% stake in Mahindra, India, to 25% through potatoes, and become the largest shareholder of 51% stake by participating in a paid-in capital increase of USD 250 million by HAAH Automotive.
As a result of the due diligence, it is analyzed that Ssangyong Motor's management environment is worse than expected, and investors are burdened with Ssangyong Motor's public interest bonds worth 370 billion won.
For this reason, it is known that some of the plans for HAAH Automotive to take over after Ssangyong Motor's debt scale decreased through legal management.
(Photo = Yonhap News)