Posco Daewoo, the South Korean conglomerate whose Cielo sedan and Matiz hatchback were once the pride of Indian car owners, is looking to re-enter India. And its return journey is riding on plans to sell electric bikes and e-cycles. The company termed India's robust economic growth and surging consumer demand as reasons behind its comeback plans, saying they make India "one of the world's most promising consumer markets," according to Y S Choi, general manager, Posco Daewoo South Korea.
Troubled car maker Daewoo Motors India has been referred to the newly set up Serious Frauds Investigation Office due to financial mismanagement involving about Rs 1,000 crore.
As a part of its localisation strategy, the $13.9 billion Chinese consumer durables major, Haier's Indian operations on Friday announced the acquisition of Daewoo Anchor Electronics in India.
Consumer durables firm Videocon Industries is looking at renewing talks to acquire the ailing Korean electronics giant Daewoo Electronics.
The creditors of Daewoo Electronics have rejected the proposal of the Videocon Industries-led consortium to acquire the company for a lower price, with a part of the proceeds being invested in the company in the form of convertible bonds.
The Videocon Industries-led consortium has submitted a revised bid to the creditors of Daewoo Electronics for buying their stake in the South Korean electronics major.
Top ten defaulters, including Daewoo Motors and Malvika Steel Ltd, owe scheduled commercial banks Rs 3908.96 crore (Rs 39.09 billion), Finance Minister P Chidambaram said in New Delhi.
The much touted $730 million acquisition of Daewoo Electronics by Videocon-led consortium could fizzle out if creditors to the ailing Korean company reject a price cut demand by the proposed buyers.
Utility vehicle maker Mahindra and Mahindra said on Monday that it has begun preliminary talks to buy the engine and transmission units of failed Daewoo Motors India.
ONGC Videsh-GAIL India consortium, which holds 30 per cent interest in recently-discovered gas field in offshore Myanmar, is eyeing 50 per cent stake of South Korean Daewoo International in an adjacent gas block.
Tata Motors has expressed interest in acquiring engine and transmission units of Daewoo Motors India soon after acquiring commercial vehicles operations of Daewoo Korea.
General Motors, the world's largest automaker, said it would buy South Korea-based Daewoo Motors' assembly unit in India for an undisclosed price.
After the takeover of Daewoo's truck division in South Korea, Tata group has changed its name to Tata Daewoo Commercial Vehicle Co Ltd and nominated Ravi Kant as chairman even as it introduced a heavy-duty truck model for the Korean market.
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
After closing down for five years, the Surajpur-based Daewoo Motors' manufacturing facility is expected to be revived as a component and engine making unit, and will also form a support base for new car models in the domestic market.
India's largest electronics firm Videocon on Monday said a consortium led by it has reached an agreement to acquire South Korea's debt-burdened Daewoo Electronics for $700 million (Rs 3,150 crore).
The Tata group may take on global automobile giants such as Ford and Renault-Nissan for in an attempt to buy Daewoo Automobile Romania, the privatisation of which the Romanian government has put on the fast track.
Potential buyers of assets of bankrupt Daewoo Motors India Ltd have won an extension of three or four weeks in which to submit bids, an official from a creditor bank told Reuters on Thursday.
Videocon chairman and managing director Venugopal Dhoot refused to confirm industry reports that the deal was inked on Tuesday morning, citing a non-disclosure agreement signed between the two parties a few days ago in Mumbai.\n\n
In a bid to salvage the $730 million Daewoo acquisition deal, which hit rough waters after creditors to the ailing Korean electronics giant refused a demand for price cut, the Videocon-led consortium has started negotiations with a revised offer.
Tata Daewoo Commercial Vehicle Company, a wholly-owned subsidiary of Tata Motors, has signed a technical assistance agreement with Pakistan-based Afzal Motors to assemble its vehicles in Pakistan.
Tata Motors inked an investment agreement to acquire Daewoo Commercial Vehicle. The acquisition marks the beginning of Tata Motors global expansion trail and is expected to help the company make a headway in a number of other markets.
The Debt Recovery Tribunal, Mumbai, has issued a fresh notice regarding the bankrupt Daewoo Motors India Ltd, placing
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