AmAr no longer wishes to invest in Daewoo-FSO

Arabian Investment & Development Holding (AmAr), a potential financial partner of MG Rover in NSC, said yesterday that it was no longer interested in investing in car producer Daewoo-FSO. The company's deputy chairman, Sven O. Fisher, informed the Economy and Labor ministry and the press of its change of heart. Daewoo-FSO's spirits remain high, however, as MG Rover is said to have presented new proposals that would require less financial assistance, thus eradicating the negative impact of AmAr's decision. "Rover no longer demands a $125 million down payment for the assembly line. We are, therefore, no longer interested [in AMAR's offer]," said Janusz Woźniak, the deputy chairman of Daewoo-FSO. (www.onet.pl; Puls Biznesu, p. 7) J.K.