Kumho Asiana to give up management rights of tire unit if restructuring plan falls through
Sept 14, 2017
Kumho Asiana Group said Thursday it will give up the management rights of its tire unit if the airline-to-construction conglomerate fails to restructure the financially troubled unit by March. The group said in a statement that it will also give up its right to buy back Kumho Tire Co. from a third party.The announcement comes after Kumho Tire's creditors raised a question about the "details-deficient" self-rescue plan submitted Tuesday by the tiremaker to its creditors, who are led by the state-