GM-Daewoo: No Bailout Needed. For Now. Maybe.

by The Truth About Cars on October 30, 2009

It’s not that GM’s Korean Daewoo division doesn’t need more money. The problem is that the only bank willing to lend a dime, the Korean Development Bank, wants strings attached. Since GM came up with the cash to buy up Daewoo’s $413m rights offering, it says Daewoo is out of trouble for two more years.