Seoul: GM wants debt-equity swap in acquisition of Daewoo Motor
General Motors Corp. wants creditors of Daewoo Motor Co. to swap loans for equity if the US giant acquires the troubled South Korean company, a senior GM official has said. Alan G. Perriton, executive-in-charge of Alliances and Partnerships for GM Asia Pacific, said here late Monday that GM would like to have the creditors "convert some of the outstanding debt for equity."
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