Fleet News

Restructuring plan for Daewoo

DAEWOO, the South Korean conglomerate with debts estimated at £36 billion, is being stripped of all but its automobile and related operations under a restructuring plan announced by creditors.

But even the remaining Daewoo group, focusing on car manufacturing and related activities, could shrink as talks of a possible sale of a controlling interest in the car maker continue between Daewoo and General Motors in the USA.

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