Mumbai: Mahindra and Mahindra Ltd, the country’s largest utility vehicle maker and tyre maker Dunlop India Ltd have been shortlisted for the South Korean SUV maker Ssangyong Motor. In a statement issued on Firday, the South Korean automaker said it has shortlisted six out of seven firms. The firms had submitted letters of intent to buy the troubled carmaker, that has been under court-led restructuring since early 2009. A Mahindra spokesman confirmed the development. Mahindra & Mahindra has been invited by Ssangyong, Korea to participate in the bidding process,” he said.
A spokesman of Dunlop India also confirmed his firm has been shortlisted. South Korea’s smallest carmaker is 6.2 percent owned by China’s SAIC Motor Corp among others. A Seoul court kicked off the sale process for the cash-strapped SUV maker last month, and is set to receive binding bids by 20 July to pick a preferred buyer in August