The CEO, who was speaking in an interview on the sidelines of the Seoul Motor Show, clarified that GM Daewoo expects to reach an agreement with the Romanian authorities within three months. He added that several other companies, including Ford Motor Co., Renault SA, Nissan Motor Co., are also interested in buying the plant. Last year, Romania’s government said the country hoped to conclude the sale of carmaker Daewoo Automobile Romania by June 2007, after it recently bought back the majority stake from its bankrupt owner.
In 2002, General Motors Corp. and other partners took a majority stake in some of the assets of failed Daewoo Motor, creating unlisted GM Daewoo. Although most of GM Daewoo cars are sold under the Chevrolet brand abroad, others sell as Pontiac, Holden and Suzuki models. (menafn.com)
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