Magazine

Table: The Daewoo Saga


JULY, 1999

Daewoo Motor collapses

AUGUST

Creditors agree to put the auto maker into a workout program

JANUARY, 2000

Creditors decide to sell Daewoo

FEBRUARY

GM, Ford, and Daimler express interest in acquiring the carmaker

JUNE

Ford is named preferred suitor after submitting a nonbinding $5.9 billion bid

SEPTEMBER

Ford abandons its bid

OCTOBER

GM and its partners announce their intention to buy Daewoo Motor

NOVEMBER

Daewoo Motor is officially bankrupt

MAY, 2001

GM delivers a formal proposal

SEPTEMBER

GM agrees to buy the Korean auto maker's best assets for $1.2 billion

Data: BusinessWeek


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