Romanian press sources have said that negotiations over the Romanian government take-over of Daewoo Automobile Craiova have reached deadlock.

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The government currently owns 49% of the company and wants to increase this to a majority stake so it can find a vehicle manufacturer partner and save the plant which employs around 3,000 people.


There is apparently some confusion over guarantees required from Korea Asset Management Corporation (KAMCO) in South Korea in exchange for the money it would receive from shares. Talks are continuing in South Korea.


GM, Ford and Renault continue to be cited as potential investors in Daewoo Automobile Craiova.

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