Website telanganatoday.com reports that US firm HAAH is set to submit a letter of intent to acquire debt ridden Korean automotive manufacturer SsangYong Motor. In April, SsangYong was placed under court receivership in Korea for the second time, which is one step short of bankruptcy in South Korea’s legal system. If HAAH succeeds in acquiring SsangYong, he said the California-based car importer plans to bring SsangYong’s SUV models and pick-up trucks to the US and Canada.

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