GM Takes Larger Stake in GM Daewoo

[-World Class-]

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]

I wonder where GM got the money from?

[Bejeweled]

I wonder where GM got the money from?

You and me.

[87silver]

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]

Amen!

[klane079]

You and me.

Negative...had to come from elsewhere

[Quixote88]

I wonder where GM got the money from?

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

[redTT]

Probably holden again

[Aprime]

Negative...had to come from elsewhere

But who's going to pay it back?

Yeah, you and me.

[Bravada]

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]

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]

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]

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]

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]

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???