View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 12, 2004

POLAND: Eleventh hour bid by SAIC and MG Rover consortium to takeover FSO

The apparently defunct plans by Britain’s MG Rover to do a deal with the management of the ailing Daewoo-FSO plant in Zeran, Poland, and the Polish government, may not be the end of the story.

By bcusack

The apparently defunct plans by Britain’s MG Rover to do a deal with the management of the ailing Daewoo-FSO plant in Zeran, Poland, and the Polish government, may not be the end of the story.

A report in the Warsaw Business Journal says that FSO has been given a second chance with Shanghai Automotive Industry Corporation (SAIC) and Britain’s Rover forming a consortium to take over the plant.

“On Saturday the SAIC supervisory board made a decision concerning the investment in the Warsaw plant. This means that the project has also been initially accepted by the government in Beijing, which is the main shareholder in the company,” said one of the people who has been searching for a potential investor in FSO.

Yesterday letters from China were allegedly received by members of the management board of FSO and Deputy Economy Minister Jacek Piechota.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto