Creditors of Kumho Tire delays meeting as Doublestar demands discount
Aug 22, 2017
Creditors of Kumho Tire Co. on Tuesday postponed their meeting after China's Qingdao Doublestar Co. demanded a cut in its bidding price for the South Korean tiremaker. The creditors, led by the Korea Development Bank, had been scheduled to hold the meeting earlier in the day to discuss Doublestar's demands. Doublestar signed a deal with the creditors in March to buy a 42.01-percent stake in Kumho Tire for 955 billion won ($841.7 million). After months of a bitter dispute over the use of Kumho Ti