Financial Daily from THE HINDU group of publications
Friday, Mar 26, 2004
Financial Daily from THE HINDU group of publications Friday, Mar 26, 2004 |
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Corporate
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Mergers & Acquisitions GM kicks off due diligence at Daewoo facility Our Bureau
New Delhi , March 25 A GENERAL Motors (GM) team visited the Daewoo Motors facility at Surajpur on Thursday, kicking off the due diligence process to purchase the plant, according to sources. They added that the team, numbering more than a dozen, consisted of persons from a variety of fields from both GM's Indian subsidiary and the parent company. The due diligence is likely to be completed in May. GM recently made an offer to the creditors of Daewoo India to acquire its assembly line facility. The acquisition would enable GM to produce its small car, the Chevrolet Spark, at Surajpur next year. However, the proposed acquisition does not include the engine and transmission unit at Daewoo.
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