Ruia Group Substitute Candidate for Ssangyong Takeover

The bid for struggling South Korean 4×4 specialist Ssangyong submitted by Indian commercial vehicle manufacturer Mahindra & Mahindra Ltd has been given the green light. Should an arrangement between Mahindra and Ssangyong’s creditors fail to be finalised, however, the Ruia Group – parent company of Dunlop India and Falcon Tyres – is reportedly next in line. A total of six parties, including Renault-Nissan, expressed interest in acquiring the debt laden Ssangyong, the smallest of South Korea’s five car makers.