SOUTH KOREA: Ford to Start Negotiation for Daewoo Motor Takeover Next Week
According to the Korea Times (18/8/00),Daewoo Restructuring Committee and Ford will commence full-scale negotiations to take over Daewoo next week.
Once Ford completes its appraisal of Daewoo Motor Friday, the company will begin all-out working-level negotiations with Daewoo.
If discussions run smoothly, it is likely that Daewoo will wrap up its review of Ford's proposal and finalize the contract in mid September.
Due to the impending negotiations, Ford has been examining Daewoo Motor, its affiliate Ssangyong Motor and Daewoo's overseas plants.
Its Vice Chairman Wayne Booker visited Seoul last week and finished fine tuning the negotiation schedule with Daewoo's bidding planner Oh Ho-keun.
Ford's negotiation team is headed by the company's Asia-Pacific Regional Directors Paul Drenko and David Snyder.