Report: ChemChina rules out Kumho purchase

London – ChemChina has denied having bid for South Korean tire manufacturer Kumho Tire , according to a Reuters report.

The news agency on 10 Nov reported a ChemChina official as having rejected Korean media reports that the company had submitted letters of intent.

Citing “a source with direct knowledge of the matter,” Reuters said about 10 parties had already expressed interest in buying a controlling stake in Kumho Tire.

As ERJ has reported, Kumho Tire’s creditors began a sell-off process for the tire-maker with a public notice…

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