Ssangyong Motor

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Title SsangYong Motor selects KG Consortium as an Expected Acquisition Prior to M&A Announcement
Date 2022-05-13

SsangYong Motor announced on the 13th to select the KG Consortium as a prospective takeover company with the consent of the court in Korea.

SsangYong Motor and EY Hanyoung Accounting Corporation conducted a comprehensive evaluation focusing onsize of the acquisition pricepaid-in capital increase ratio and required share ratioplan to secure operating funds after the acquisition (scale and method of procurement)employment guarantee period.  In particular, taking the M&A failure with Edith Motors deal, the acquisition price and post-acquisition operating funds size were evaluated as well as the proof of procurement of the proposed financing plan and the type of input.Before the announcement of the M&A, Ssangyong Motor plans to sign a conditional investment contract with the KG consortium, which is expected to take over, during the next week, and after that, the public sale process is scheduled to proceed.

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