Ruia Group, which controls tyremakers Dunlop Ltd. and Falcon Tyres, would bid for the cash strapped South Korean SUV maker, Ssangyong Motors, by August 2010, a spokesperson for the Ruia Group has said.
Other major players bidding for the Korean SUV maker are France’s Renault, Nissan Motor and Mahindra & Mahindra. These companies have shown their willingness in bidding for Ssangyong Motors.
“The due diligence is over. We will make our bid by the tenth of August,” the spokesman said on Wednesday
The deadline for the final bid was recently extended by three weeks to August 10, to offer more time to the participants for the due diligence process.
The spokesman added that Ruia Group Chairman Pawan Kumar Ruia will be meeting the management of Ssangyong by the end of July.