Mahindra & Mahindra (M&M) is reportedly interested in buying a majority stake in South Korean sports utility vehicle manufacturer SsangYong Motor Company (SMC).
According to reports, M&M recently sent a letter to the management of SsangYong, expressing its desire of buying controlling rights in the cash-strapped firm.
However, there hasn't been any official confirmation of the media reports by either company.
A South Korean court backed Ssangyong's rescue plan last December, which was opposed by its majority owner, China's SAIC Motor Corp.
SAIC paid US$500mn in 2004 to acquire nearly 49% in the debt-laden SMC.