By Liz White, ERJ staff
Findlay, Ohio-US tyre maker Cooper Tire & Rubber Co. is to acquire some 11 percent of the common equity of Korean-based tyre maker Kumho Tire.
Cooper Tire said 9 Jan that the acquisition is connected with an IPO (initial public offering) planned for Kumho, which will be listed on the Korean and London Stock Exchanges. The transaction is expected to close in the first quarter 2005. The agreement is subject to a number of government and regulatory approvals, Cooper added.