Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote ()	8/20/1999 9:41:00 AM
From: porcupine --''''>	of 1722

Daewoo offers to sellout to GM; Suzuki seeks GM production deal The automaking unit of South Korea's embattled Daewoo Group plans to raise $3.5 bln through a strategic alliance with GENERAL MOTORS CORP, lead creditor Korea First Bank said on Saturday. "In its restructuring programme, Daewoo said it wanted to raise $3.5 bln from a deal with General Motors," said a senior Korea First Bank official. Kim Tae-gou, the president of Daewoo Motor, said on Friday Daewoo was willing to give up managerial rights to the U.S car giant in an effort to reach an alliance. Suzuki Motor Corp said it may produce cars for sale in Asia by GENERAL MOTORS at its Kosai plant in eastern Japan. "The Kosai plant is one candidate site for making GM's Asia cars' but GM and Suzuki have no concrete plan yet," a Suzuki spokesman said. "Everything (about developing and manufacturing the GM Asia cars) is up to GM." A report in business daily Nihon Keizai Shimbun last Friday said that Suzuki was in talks with General Motors on producing GM brand vehicles at a domestic plant by 2000. Suzuki said it could not rule out the possibility and GM was unavailable for comment. (Reuters 06:45 AM ET 08/09/99) For the full text story, see

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