No Agreement Made on Kumho Industrial Sales Price - Tire Review Magazine

No Agreement Made on Kumho Industrial Sales Price

Creditors failed to reach an agreement on a price to sell their 57.5 percent stake in Kumho Industrial, the Korean Times reported.

Last week, creditors were pushing Kumho Asiana Group to pay more than 650.3 billion won – the amount the company has said it cannot exceed – to purchase Kumho Industrial.

On Aug. 27, the Korea Development Bank and 21 other creditors met to choose a final sales price, but failed to agree.

The disagreement is likely to delay the sale of Kumho Industrial, and a new meeting time has not been set.

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