SsangYong exits insolvency following acquisition by KG Group

SsangYong announced on Friday it made the final repayment on a bridge loan that has kept the Korean automaker afloat since it became insolvent in late 2020. SsangYong, which doesn’t operate in the U.S., ran out of funds after its previous backer, India’s Mahindra & Mahindra, stopped further investment while searching for a buyer. An initial…