600Doublestar's 4.0 site 1

Kumho deal reopened; Doublestar to be largest shareholder

600Doublestar's 4.0 site 1Qingdao, China – Chinese investors led by Qingdao Doublestar has reached an agreement with Kumho’s shareholder Korea Development Bank in March to acquire a 45% stake in the tire maker, Doublestar told ERJ.

Such stake will be acquired through €510 million (4 billion yuan) private placement to Doublestar and three Chinese state-owned companies, Qingdao Conson Development (Group), Qingdao City Construction Investment (Group) and Qingdao Port International.

The transaction, pending relevant approval, is expected to close…

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