The Polish News Bulletin reports that the future of the failed Daewoo-FSO operation should become clearer this week, with the formation of a ‘New Small Company (NSC)’ by ‘Tuesday at the latest’.
According to the report, Daewoo-FSO’s creditor banks will sign an agreement to create the company from the old company’s assets and MG-Rover will enter later with the creation of ‘FSO-MG Rover’.
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The report says the banks will reduce their share in the NSC company over time, with ‘trade investors’ taking more. The report adds that the company is expected to take six years to become profitable.
