As reported last October, Qingdao Doublestar Co., Ltd. is working towards significantly deepening its control over South Korean tyre maker Kumho Tire through a complex but strategically crucial transaction valued at nearly RMB 4.93 billion (£509.1 million / US$687.1 million). By doing so, it will gain indirect but consolidated control of 45 per cent of Kumho Tire’s equity.
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