No Daewoo deal, says GM

General Motors has dropped plans to buy Daewoo Motor India’s car plant at Surajpur in Uttar Pradesh. What has prompted General Motors to call off the deal is the government’s inordinate delay in reaching an out-of-court settlement with the lenders to the beleaguered plant and Arcil, an asset reconstruction fund overseeing the sale, sources close to the development said. Read more