Tag: South Korean

Why Doublestar’s Kumho purchase is a good idea

Why Doublestar’s Kumho purchase is a good idea

6th April 2018 | 0 Comments

15 months after bidding got underway, Qingdao-based Doublestar and its consortium of Chinese banks and investors bought 45 per cent of the South Korean tyremaker Kumho Tire over the Easter weekend. Whatever other clauses are written into the deal, following the release of shares issued for the purpose of the sale, Kumho Tire’s creditors will own a 23.1 per cent shareholding in the tyre maker, down from 42.01 per cent. This makes the Chinese tyre firm controlling shareholders in South Korea’s Kumho Tire.

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Korea Development Bank could halt Kumho restructuring, trigger receivership

12th January 2018 | 0 Comments

Kumho Tire has been attempting to downsize for a possible sale, according to the Korea Times. At the same time, the Korea Development Bank (KDB) is threatening to withdraw support for Kumho Tire unless the tyremaker can agree restructuring terms with its trade unions. And this in turn could trigger receivership.

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Kumho takeover implosion isn’t the end of market consolidation attempts

9th October 2017 | 0 Comments

No I am not talking about the unqualifiable rumours that Doublestar made an offer of up to 250 million euros for Zenises. Rather, that in the first week of September we learnt that Doublestar’s proposed acquisition of Kumho was collapsing before the firm’s eyes after the Qingdao-Chinese tyre manufacturer asked for a double-digit discount. And it is also worth considering what all this means for the wider tyre manufacturing sector.

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Autopromotec 2017 considering Korean options

18th April 2016 | 0 Comments

Autopromotec’s organisers have flown to South Korea, the world's fifth ranked auto industry, ahead of the 27th edition of the automotive parts exhibition of which tyres play a key part. The party, led by Emanuele Vicentini, Autopromotec Brand Manager, went to South Korea in March as part of the “Missioni di Sistema” program promoted by the Italian Ministry of Economic Development and the ICE - Italian Trade Promotion Agency. South Korea makes 4.5 million vehicles annually and Hankook, Kumho and Nexen are all based there.

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