Mahindra amp; Mahindra has been picked as the preferred bidder to buy South Korea8217;s Ssangyong Motor in a deal estimated at up to 500 million,Ssangyong said on Thursday.
Ssangyong set the deadline for a binding offer for the company on Tuesday and three groups including Mahindra and India8217;s Ruia Group submitted their proposals to buy the cash-strapped auto company,according to media reports.
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