Report: Kumho chairman to buy back tire unit

Seoul –  Kumho Asiana Group chairman Park Sam-koo has secured nearly a trillion won (€800 million) to buy back a 42% stake in Kumho Tire, according to a 9 Feb report by the Korea Times.

Citing Kumho officials, the report said Park had secured the funds “from several financial investors and business associates” to buy the 42.1% stake in Kumho Tire, which is currently held by a number of creditors including Korea Development Bank (KDB).

Park, according to the official, is ready to exercise his right to…

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