Kumho Granted Debt Stay, Considers Restructuring Deal
Kumho’s creditors are pushing back debt payments into the new year, so the Korean manufacturer can develop a restructuring plan to move forward after a tumultuous year.
Park Backs Out of Kumho Tire Sale
Korean media is reporting that Kumho Asiana Chairman Park Sam-koo has given up his right of first refusal for Kumho Tire. He has also stepped down from executive management for the company.
Kumho Deal Crumbles, Creditors Reject Demands
After a year of negotiation regarding the acquisition of Kumho Tire by Qingdao Doublestar, the deal could be back at square one.
China on the Rise Tire Companies Making Waves Around the Globe
The Chinese tire industry, which has grown exponentially for more than a decade, has been facing a slowdown for the past two years. Tariff and non-tariff barriers imposed by a number of key countries and huge overcapacity in domestic tire manufacturing have adversely affected the industry.
Sale of Kumho Tire Hits a Snag
The sale of Kumho Tire to Chinese tiremaker Qingdao Doublestar Co. could go back to the drawing board, potentially opening an opportunity for Park Sam-koo, chairman of Kumho Asiana Group, to exercise his buyback rights after all.
Deal for Kumho Expected to Be Signed This Month
Qingdao Doublestar Co. is in its final stages of the majority share purchase of Kumho Tire Co., according to Korean media.
New Terms Proposed for Use of Kumho Trademark
The ongoing battle between creditors and Kumho Asiana Group over the trademark rights of Kumho Tire continues.
Park Asked for Detailed Kumho Tire Purchase Plan
Creditors of Kumho Tire Co. have asked Park Sam-Koo, chairman of the Kumho Asiana Group, to present a detailed plan for his buyback of Kumho Tire.
Report: Politicians Urge Creditors Not to Sell Kumho Tire to China
South Korean politicians have voiced their concerns about the pending Kumho Tire/Doublestar Tyre Co. deal, asking the Korea Development Bank (KDB) and other creditors not to sell to a Chinese company, the Korea Times reports.
Report: Park Threatening Legal Action to Buy Back Kumho
Park is reportedly threatening to sue the Korea Development Bank (KDB) in an effort to pressure KDB to allow him to bid for a controlling stake in Kumho Tire through a consortium.