[Euro19]

I hope this clears up things for ya, since this doc. is from May 2001 all the agreements have been done.

General Motors Takeover of Daewoo Motor Reported as Imminent

11 May 2001

The Board of General Motors has approved the takeover of Daewoo Motor, according to news agency and Korean media reports. General Motors is expected to make a formal proposal as early as next week and a formal agreement could be reached as early as mid June.

As recently announced to a group of Australian journalists by J.D. Lee, Chairman of Daewoo Motor, the company has recently prepared the groundwork for a return to operating profit for the current calendar year. Indeed the recent announcement of its first operating profits in April after nearly three years has been cited as a major factor for the improvement in the company's prospects.

Despite the weakness of the local currency, Daewoo Automotive Australia remains one of the most successful overseas affiliates and no change is expected to Daewoo's operations in Australia at this stage