Ruia Group

Ruia Group eying a European components firm

Ruia Group eying a European components firmAfter setting its sight on the cash-strapped Korean auto major, Ssangyong Motors, Ruia Group is now trying to get its hands on a European automobile components firm to drive its growth in the future.  

Pawan Ruia, Chairman, Ruia Group recently said that the Group is trying to close a deal very soon in one of the auto component companies in Europe.

In fact, Ruia also pointed out that as lot of companies are up for sale in the European market, the Group is trying to work on some projects.

Ruia Group may acquire European auto-component company

Ruia Group may acquire European auto-component companyKolkata, July 15 - The Ruia Group, known for its buying spree, could acquire a European auto component company soon, chairman Pawan Kumar Ruia said.

"We are trying to close a deal very soon in one of the auto component companies in Europe. In Europe, a lot of companies are up for sale. We are working on some projects," Ruia told IANS in an interview here.

Ruias need more time to decide on Ssangyong

Ssangyong-MotorsThe P K Ruia group has recently said that the company will need more than initially expected to complete the due diligence process to file its final bid for the buying of the troubled Korean auto major, Ssangyong Motors.

It is to be mentioned here that the P K Ruia Group and Mahindra & Mahindra are among the six names that have been shortlisted by the management for buying out the South Korean firm.

A Ruia Group spokesperson recently said that the company has asked the target company for more time on the due diligence process and is waiting a reply a reply from the company.

Ssangyong Motors suitable for Pawan Ruia?

Ssangyong Motors suitable for Pawan Ruia?When Pawan Ruia, the owner of the Ruia Group placed his bid for the troubled Korean Ssangyong Motors, many industry experts showed skepticism on what exactly is he looking forward at.

Notably, the Ruia Group has very little expertise that is required in manufacturing cars and the Group has already submitted its letter of intent for buying the troubled auto major and will soon be submitting its bid.

However, it may be noted here that when the Group took over bought Jessop in 2003, it hardly had any experience in engineering.




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