Mahindra to start Ssangyong due diligence

PUNE, India (Reuters) - Mahindra & Mahindra, India's largest utility vehicles and tractor maker, will start due diligence on troubled Korean SUV maker Ssangyong Motor in a day or two, a senior official said on Monday.

"The final bid and the bid amount will depend on the findings of the due diligence that would be completed over few weeks," Pawan Goenka, Mahindra's president for the automotive sector, told reporters at the sidelines of a news conference.

Earlier this month, Ssangyong said it had short-listed six out of seven firms that submitted letters of intent to buy the carmaker, under court-led restructuring since early 2009.

(Reporting by Kaustubh Kulkarni)

(For more business news on Reuters India click http://in.reuters.com)