SsangYong set to hire sale advisor soon Carmaker carrying out marketing campaigns to prospective buyers
Translated by Kim So-in 공개 2021-05-27 08:30:33
이 기사는 2021년 05월 27일 07:36 thebell 에 표출된 기사입니다.
SsangYong Motor, currently under court receivership, is expected to start its sale process in earnest as early as the end of June.EY Hanyoung, a supervising accounting firm in charge, will submit its financial report on SsangYong to the court by June 10. Whether the cash-strapped carmaker will be able to secure a prospective buyer which can get conditional funding and consent on the plan for rehabilitation procedures from Korea Development Bank, the main creditor of SsangYong, will be the key to the rehabilitation process.
SsangYong is expected to select a sale advisor as early as this week to find a new investor, industry sources said. Then, the company will set the concrete plans on the sale through discussion with the court. SsangYong has been in the court-led debt rescheduling process since last month.
SsangYong is currently carrying out marketing campaigns towards potential buyers while selecting its sale advisor. The company will sell itself through a stalking-horse bidding process if it finds a prospective buyer.
The SUV-focused carmaker reportedly received letters of intent (LOI) mainly from strategic investors, but whether they will finish the race remains to be seen as the offers are non-binding.
US vehicle importer HAAH Automotive Holdings is said to remain among the potential bidders though it failed to submit a LOI to a bankruptcy court to acquire the financially troubled carmaker.
HAAH may speed up the sale process if it decides to buy the automaker this time, considering it and SsangYong discussed detailed terms during SsangYong’s preparations to file for a prepackaged bankruptcy program.
Market insiders said whether SsangYong will secure the genuine prospective buyer which will get consent from creditors will be the key to exit from the court-led rehabilitation proceedings. (Reporting by Seon-young Kim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- '오스템임플란트 볼트온' MBK-UCK, 브라질 임플란트 3위 업체 인수
- '주주환원 강화' 케이카, 1분기 실적 주목
- 가보지 않은 길 'ARC' 셀비온-앱티스 맞손, 독성에 도전
- [여전사경영분석]BNK캐피탈, 순익 반등에도 수익성 제고 과제 여전히
- [은행경영분석]권재중 BNK금융 CFO 첫 성적표 'CET1 12%대' 진입
- 마이금융파트너, 신계약 성과에 2년째 매출 급증
- [여전사경영분석]문동권식 수익다변화 전략 적중…신한카드, 순익 회복 시동
- BNK캐피탈, 상임감사에 김상대 전 금감원 국장 선임
- [은행경영분석]우리은행, 기업금융 명가 재건 '중기 대출' 강화에 달렸다
- DGB금융, '대구은행장 후계자' 육성 작업 본격화