US Consortium Plans To Buy Kumho Tire

The Kumho Group, by the 11th January, will be in receipt of a letter of intent to take over the tyre division. The bid comes from a duo of US-based consortia seeking to gain position as priority negotiators in the sale of the tyre division. One consortium is led by Carlyle, the other by Goldman Sachs.

Kumho aims to sell around 80 per cent of its interest in Kumho Tire for about $1.5 billion (1.67 billion Euro).