GM Takes Larger Stake in GM Daewoo

-World Class- · 10-23-2009, 08:22 PM

General Motors Co. said Friday that it had increased its holding in GM Daewoo Auto & Technology Co. of South Korea to 70.1 percent from 50.9 percent after being the only shareholder to subscribe to a rights issue this week.

Link -> http://www.detnews.com/article/20091...e-in-GM-Daewoo

BlackGTP · 10-23-2009, 09:00 PM

I wonder where GM got the money from?

Bejeweled · 10-23-2009, 10:43 PM

Quote:

Originally Posted by BlackGTP

I wonder where GM got the money from?

You and me.

87silver · 10-23-2009, 10:53 PM

And we'll keep buying Toyotas and Hondas so that they can come back at us for more. This way, all of the American $$$ can live happily ever after in the Asian Pacific countries.

sonjaab · 10-24-2009, 12:33 AM

Amen!

klane079 · 10-24-2009, 12:43 AM

Quote:

Originally Posted by Bejeweled

You and me.

Negative...had to come from elsewhere

Quixote88 · 10-24-2009, 01:14 AM

Quote:

Originally Posted by BlackGTP

I wonder where GM got the money from?

I would bet from mortgaging a piece of their GM China holdings...

redTT · 10-24-2009, 01:16 AM

Probably holden again

Aprime · 10-24-2009, 02:12 AM

Quote:

Originally Posted by klane079

Negative...had to come from elsewhere

But who's going to pay it back?

Yeah, you and me.

**Bravada** · 10-24-2009, 06:14 AM

Goodie! People forget that cheap Korean won does not only benefit Hyundai and Kia, but also... GM!

BTW, I wonder how the Cruze does against the Forte/Cerato and Elantra/Avante in Korea...

Rick_VT · 10-24-2009, 11:22 AM

Given that Suzuki hold a 6.8% stake, are they also going to use the small car platforms that GM has like Delta and Gamma? Or do they already use them?

Would realy help with economy of scales if they also used them to.

rueben44 · 10-24-2009, 11:26 AM

I am so tired of the lame government motors talk. If people really wanted to take issue with something go to your local emergency room and look at the billions you have been paying for ever for services to people who are a lot of times not even citizens. At least we will see most of the money back from GM. Also most will have to find a new line anyway when the government starts to sell it's interest next year.

fp115 · 10-24-2009, 12:01 PM

Quote:

Originally Posted by Aprime

But who's going to pay it back?

Yeah, you and me.

Do you live in Korea? GM cannot use any government money to fund business outside of the US or Canada. These rumours are all so silly.

**Bravada** · 10-24-2009, 01:01 PM

Quote:

Given that Suzuki hold a 6.8% stake, are they also going to use the small car platforms that GM has like Delta and Gamma? Or do they already use them?

Daewoo used to get a bit of old Suzuki tech (e.g. the Tico was the old export version of Suzuki Alto), but I am not sure it continues now. Suzuki also used to co-retail the Daewoos in Japan, which might perhaps continue, excuse me for being lazy and not checking.

Suzuki's stake is now reduced to even more negligible by the issue. I don't think there is any cooperation in the making.

stormwatcher · 10-24-2009, 03:29 PM

Quote:

Originally Posted by BlackGTP

I wonder where GM got the money from?

GM-Daewoo will raise the money from investors in a rights offering and use the money to repay debt.

I thought GM bought Daewoo for almost nothing. Now GM-Daewoo is saddled with huge debts to the Korean government. With GM-Daewoo's expanding sales numbers, how did this company get so indebted so quickly???

10-23-2009, 08:22 PM	#1 (permalink)
-World Class- 2.4 Liter SIDI ECOTEC Join Date: Dec 2008 Location: The South Drives: '99 Olds Alero GLS coupe Posts: 140	GM Takes Larger Stake in GM Daewoo General Motors Co. said Friday that it had increased its holding in GM Daewoo Auto & Technology Co. of South Korea to 70.1 percent from 50.9 percent after being the only shareholder to subscribe to a rights issue this week. Link -> http://www.detnews.com/article/20091...e-in-GM-Daewoo __________________ Last edited by -World Class- : 10-23-2009 at 10:10 PM.

10-23-2009, 09:00 PM	#2 (permalink)
BlackGTP 3.0 Liter SIDI V6 Join Date: Jul 2008 Location: Connecticut Drives: 2008 Chevy Malibu LTZ Posts: 734	Re: GM Takes Larger Stake in GM Daewoo I wonder where GM got the money from?

10-23-2009, 10:53 PM	#4 (permalink)
87silver 3.0 Liter SIDI V6 Join Date: Jan 2008 Location: Hudson River Valley Drives: 1987 Suzuki Samurai 1987 Chevrolet Silverado 4x4 Posts: 551	Re: GM Takes Larger Stake in GM Daewoo And we'll keep buying Toyotas and Hondas so that they can come back at us for more. This way, all of the American $$$ can live happily ever after in the Asian Pacific countries. __________________

10-24-2009, 12:33 AM	#5 (permalink)
sonjaab 3.6 Liter SIDI V6 Join Date: Apr 2003 Location: Syracuse-Alexandria Bay NY-Daytona Drives: 07 DTS-07 CHEVY 2500 84 Z-28-72 GTO Posts: 1,201	Re: GM Takes Larger Stake in GM Daewoo Amen! __________________ 07 Chevy 2500 07 DTS-84-Z-28/72 GTO 77 Triumph Bonneville Syracuse NY-Daytona Alexandria Bay NY

10-24-2009, 01:16 AM	#8 (permalink)
redTT 5.3 Liter Vortec V8 Join Date: Nov 2005 Posts: 1,255	Re: GM Takes Larger Stake in GM Daewoo Probably holden again

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10-24-2009, 06:14 AM	#10 (permalink)
Bravada GMI Europe Correspondent Join Date: Nov 2004 Location: Warsaw, Poland Posts: 14,853	Re: GM Takes Larger Stake in GM Daewoo Goodie! People forget that cheap Korean won does not only benefit Hyundai and Kia, but also... GM! BTW, I wonder how the Cruze does against the Forte/Cerato and Elantra/Avante in Korea...

10-24-2009, 11:22 AM	#11 (permalink)
Rick_VT 2.8 Liter Turbocharged V6 Join Date: Jul 2006 Location: Canberra Australia Drives: VT Acclaim Series 1 Posts: 790	Re: GM Takes Larger Stake in GM Daewoo Given that Suzuki hold a 6.8% stake, are they also going to use the small car platforms that GM has like Delta and Gamma? Or do they already use them? Would realy help with economy of scales if they also used them to.

10-24-2009, 11:26 AM	#12 (permalink)
rueben44 5.3 Liter Vortec V8 Join Date: Oct 2003 Location: Houston, TX Drives: 2006 Mazda 3 2003 CTS - Sold Posts: 1,492	Re: GM Takes Larger Stake in GM Daewoo I am so tired of the lame government motors talk. If people really wanted to take issue with something go to your local emergency room and look at the billions you have been paying for ever for services to people who are a lot of times not even citizens. At least we will see most of the money back from GM. Also most will have to find a new line anyway when the government starts to sell it's interest next year. __________________ 2006 Mazda 3 Car Domain Page

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