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Will Mahindra's Board Approve Its Bid For Ssangyong?
This bid will also be helped with finance from debt and internal accurals, which will include Kotak Mahindra Bank and some more bankers.
According to sources, Mahindra's balance sheet and debt equity ratio are strong enough to raise the money on its own along with some debt component. Mahindra has been conduction due diligence for the past one month and the company's current cash reserves stand at 5000 crore.
Mahindra is not the only bidder for Ssangyong. It has to face other bidders like Renault-Nissan and Ruia Group of Kolkata. Mahindra's move in acquiring various businesses proves its sincere steps in marching towards a global company. Mahindra acquired Reva Car Company, Renault's stake in Mahindra-Renault JV, Satyam Computer, Punjab Tractors. In the Utility vehicles, Mahindra is gearing up to expand its business through exports.
Mahindra is attracted towards Ssangyong products because, the Korean company has its presence in Korea, Russia and Europe. Also, the expensive SUVs from Ssangyong such as 'Chairman' and 'Rexton' will not interfere with Mahindra's cheaper priced vehicles.
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