After more than a year and a half of intense negotiations, last week GM finally put pen to paper to decide the fate of bankrupt Daewoo Motor Corporation. Given the significance of the deal, it was signed in far from ceremonious circumstances. GM chairman Jack Smith and Korea Development Bank (KDB) chairman Jung Keun-Jong were forced to change the venue after union members of Daewoo Motor Sales stormed the original hotel in protest. And sales networks elsewhere were left out too. Tony Pugliese looks at the deal and its strategic implications.
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