Fleet News

Daewoo close to LDV sale

DAEWOO is close to reaching a deal over the sale of its 50% stake in LDV as well as its Polish commercial vehicle plant. Volkswagen has been tipped as the likely new owner.

Although Daewoo and LDV confirmed that discussions were progressing, there has been no official word on the identity of the third party. LDV said at last year's motor show in Birmingham that its strategy did not include Daewoo. The Korean car maker is also close to selling the Worthing Technical Centre following discussions with an unnamed buyer, thought to be TWR.

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