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Kumho Tire share purchase ‘looming’

Seoul, Korea – Kumho Tire creditors are set to close a deal on the sale of 42.01% majority stake shares to Chinese tire maker Qingdao Doublestar, The Investor has reported.

According to the business news website, the creditors, led by state-run Korea Development Bank, expect to enter into a stock-purchase agreement with the Chinese tire maker around 10-13 March.

Citing local media, the report said the final price of the deal was set at 955 billion won (€778 million).

Kumho Asiana chairman Park Sam-Koo, however, still has right…

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