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Exclusive: GM offers $2.2 billion debt for equity swap in return for Seoul’s support – sources

SEOUL : General Motors (GM.N) has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said. The restructuring proposal comes after the Detroit automaker announced last week that it would shut its plant in...

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