Fleet News

Third round opens in battle for Kia

HOPES of an end to the long-running battle to find a new owner for Kia, the bankrupt Korean car company, have been dashed after a second round of bidding was abandoned. A new owner for the firm was hoped to be announced at the end of September, but none of the bidders was prepared to take on the required portion of the £6-7 billion debts.

Ford pulled out of the second round of bidding and the remaining firms, Hyundai, Daewoo and Samsung, all stuck firm to their demands for less debt to be passed on. A third round of bidding is now open, with candidates from the first round being approached, including General Motors. A result is expected in the next two to three weeks.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee