Several companies want to bid for Kumho tires

The mainland China Group, which currently has the loudest voice, is also regarded as the most likely potential winner. Currently, reports from foreign media have reported that mainland financial investors have already discussed Kumho Tire tendering. In addition, Michelin and China National Chemical Industry Group showed great interest in bidding. There is no public announcement that Kumho Tire will be sold. South Korean media predicts that the official announcement of the sale will be issued next month.

Surprisingly, before the announcement of the official announcement, no one was willing to comment on the development of the incident. The Korean Herald pointed out that the main creditor of Kumho Tires, Korea Industrial Bank, is currently keeping a distance with Continental Group, Kumho Tire and Continental Group Keep silent on this matter. At present, Kumho Tire creditors hold a total of 42.1% of the shares, the value of which is 65 million won (approximately 386 million pounds). They have already planned to sell Kumho Tire’s shares from the company’s completion of a five-year debt restructuring plan at the end of 2014.

Park San-joo currently holds approximately 8% of Kumho Tire's shares. In December of last year, he regained control of Kumho Industries through a special third-party company, but this time this practice was prevented. (As of April 28, 2015, Kumho Group plans to sell 57.5% of Kumho Industries, and Park Sanoku has the right of first refusal. He is allowed to purchase the 50% plus 1 share of Kumho Industrial at the highest bid price.)

The creditors decided to support a contract clause that prohibits transfer, that is, prohibiting the sale of the right of first-class purchase to any third party. At the same time, in order to guard Piao Sanqi and his son, they will hold a fair and fair bid. At present, Kumho Asiana Group said: If Kumho Tire creditors formally announced the sale of their shares, they will make every effort to recover Kumho Tire.

In July of this year, I am afraid that a world-famous tire industry bidding war is about to begin. All parties involved in the bid are big brothers in the industry. Money is not a problem. Ultimately, who will become the new helm of Kumho Tires? Dong Jia Han Ya Group is still eyeing the Continental Group, Michelin, and China Chemicals. Let's wait and see. More exciting please continue to focus on China Tire Commercial Network, we will bring you the latest relevant reports.

The Kumho Asiana Group started its transportation business after the late Chairman Park Ren-day established the Gwangju Taxi in 1946. Now it has developed into a variety of business groups such as construction, tires, aviation, land transportation, leisure and IT business. Big business. Among them, Kumho Express Bus ranked first in Korean high-speed bus market share, and Asiana Airlines won consecutive “Airline of the Year” award. It is also well-known in the global aviation industry, and Kumho Tire ranks No. in China’s passenger car tire market share. First, with production bases in South Korea, China and Vietnam, it has pushed into the forefront of global operations.

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