It has signed a [financial newspaper stand hyomun Korea News] Double Star creditors and Kumho Tire Co. sales contract 13 days (SPA). The transaction amount is 955 billion won. Kumho Asiana Group Chairman Park Sam-koo does not exercise the appraisal rights within 30 days of the first Double Star is the largest shareholder of Kumho Tires to equity ratio of 42.01%.
Creditors have passed since about one year announced its intention to sell a 42.01% stake in Kumho Tire. In September 2016, the month the official release announcement and creditors sale January 18, 2017 Double Star points and was selected as the preferred bidder advantage in terms of non-price factors. Since then, Double Star and creditors was led to conclude at the end of the day, SPA negotiating for two months.
Kumho Tire Founded in 1960, the last big tire manufacturers to second in Korea. It was listed in 2005 once prayed entered the world's top 10 Thai businesses rank. Kumho Tires has shown exceptional skills in the passenger car tire, especially SUV and passenger car, racing vehicle tire sector.
Kumho Tires with state-of-the-art research and development center in China, just like South Korea and Nexon tires and tires may leave a large map scale saengsangi. China's share of occupied factories in tire production capacity of Kumho Tires is 40%. However, due to supply and demand imbalances in the Thai market since 2011 it began the Kumho Tires earnings. The main factory in China in 2015, Kumho Tires has record deficits.
Double Star is referred to as the Chinese stock market listed company with smart leader in the Chinese tire manufacture. Bus and truck tires, as well as holds the superior skills in areas including long distance bus tires, mining truck tire. In 2016, the Double Star has built the world's first commercial vehicle tires "Industry 4.0" smart factory.
According to the industry, and 40 percent of Kumho Tire production scale in China, China is also a major breakthrough that can continue to overcome the challenges of today. Double Star can help in troubleshooting and management aspects of the financial difficulties that are experiencing the influence of Kumho Tires in recent years development experience with the Chinese market. This seems to pursue the development of the company's management and business improvement.
Meanwhile, after a double star with the largest shareholder of Kumho Tires we will continue to have an independent management.
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