Kumho agrees to sell stake in company to Doublestar

Seoul, South Korea — After months of uncertainty, it appears Kumho Tire Co. Inc. will have a new owner — China’s Qingdao Doublestar Tire Co. Ltd.

Kumho announced 3 April that its management and union have agreed to a plan by the firm’s creditors to sell a controlling stake in South Korea’s second-largest tire maker to Doublestar.

Although Kumho did not release financial figures, officials from the Chinese investors told ERJ in March that they would acquire a 45% stake from shareholder Korea Development Bank (KDB) through…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with