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[Alpha Biz=(Chicago) Reporter Kim Jisun] KG Mobility was selected as the preferred bidder for conditional investment contracts before the announcement of Edison Motors by the Rehabilitation Court (Changwon District Court).
Edison Motors has been in the process of selecting a "priority bidder for conditional investment contracts" since the court decided in January to start the corporate rehabilitation process.
Following the application of LOI for investors in March, KG Mobility conducted preliminary due diligence until the 14th and submitted a conditional investment acquisition proposal on the 21st. Once the contract is finalized through the board of directors, it will sign a conditional investment contract with Edison Motors.
KG Mobility said that Edison Motors, which was confirmed through due diligence, is a company that produces electric buses with a localization rate of 85% or more and has its own technological competitiveness and sales network. They believe that there is a good chance of recovery.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
