Qingdao Doublestar, subsidiary Xingwei Korea sign deal to acquire 45% stake in Kumho Tire
Deal makes Doublestar the largest shareholder in Kumho Tire
China’s Qingdao Doublestar Group and its subsidiary Xingwei Korea have inked a contract with Kumho and its creditor representative Korea Development Bank to acquire a 45% stake in Kumho Tire through a KRW646.3 billion (USD604.6 million) private equity placement, according to Doublestar’s press release on 12 April.
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