South Korea President Poises New Threat to Doublestar’s Kumho Tire Buy
Analysts have found that South Korea’s new president, Moon Jae-in, could prevent the Chinese tiremaker from acquiring the majority share of Kumho Tire.
Park Passes on Kumho Tire Buyback, Doublestar Poised to Buy Company
Kumho Asiana Group Chairman Park Sam-Koo announces he will not exercise his right of first refusal to repurchase Kumho Tire, the Korea Herald reports.
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.
Park Closer to Reacquiring Kumho Tire
Park Sam-koo, chairman of Kumho Asiana Group, has secured financial investors to buy back Kumho Tire Co., according to The Korea Herald.
Report: Doublestar Preferred Bidder for Kumho Tire
Asia media reports China’s Qingdao Doublestar Tyre Co. was selected as the preferred bidder for the controlling stake of Kumho Tire Co.
Report: Kumho Tire Sale Attracts 10 Bidders
Reuters is reporting that 10 different parties have expressed interest in purchasing the controlling stake of Kumho Tire Co., according to an industry source. A group of creditor banks, including Korea Development Bank, started taking bids for their 42% stake in Kumho Tire in September. Interested parties were not named, but previous rumors had several
Kumho Tire Honored With Good Design Award
Kumho Tire has received the Good Design Award of Japan for two of its tires, the Eco Sense SE11 and the Solus HA3. This is the third year in a row a tiremaker has been honored with the award in the transportation equipment and industrial facility subcategory. “With the winning of the Good Design Award
Report: Creditors Prepare to Sell Kumho Tire Share
After no moves were made it August, Reuters has reported creditors of Kumo Tire are still preparing to sell their 42% share in the tire company. It is estimated Kumho Tire could sell for at least 1 trillion won (about $870 million). A spokesperson for Korea Development Bank, Kumho Tire’s largest shareholder, told Reuters the deadline
Report: Chairman Park Still Eyeing Kumho Tire Acquisition
Kumho Asiana Group Chairman Park Sam-koo appears to be continuing efforts to reacquire Kumho Tire as creditors prepare to sell their 42.01% stake in the tiremaker, Korean media reported. According to media reports, Park visited Kumho’s facility in Gwangju, South Jeolla Province, recently where he met with labor union representatives and workers. The visit was