The American group FORD won the status of exclusive negotiator for the acquisition of the bankrupt South Korean manufacturer DAEWOO MOTOR. The group offered a higher amount than its competitors DAIMLERCHRYSLER, GENERAL MOTORS and FIAT. The price offered has not been revealed, but the South Korean press estimates it at around 7,700 billion Wons (around USD 6.9 billion). See among others EI of 8 March 8 and of 17 December 1999.