Qingdao Doublestar confirms Kumho acquisition details

Following the news that it will take control of Kumho as the largest shareholder, Qingdao Doublestar has released details of how it is working to indirectly hold 45 per cent of Kumho’s shares by issuing shares and paying cash in order to obtain strategic assets. After the complex transaction is completed, Qingdao Doublestar will control Kumho. Prior to this transaction, 45 per cent of Kumho was controlled by the wider Doublestar group rather than the tyre manufacturer Qingdao Doublestar itself.