Kumho Tire’s future in limbo as Doublestar cancels deal

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Seoul – Following months of debates and dispute over trademark rights and price tag, China’s Qingdao Doublestar has agreed to cancel a deal to buy a 42.01% stake in South Korea’s second tire-maker, according to the Korean news agency Yonhap.

As reported by ERJ, after months of disputes over trade mark rights, Doublestar, in August, asked for the price tag to be reduced to 800 billion won, from the original 955 billion won (€778 million) agreement signed in March.

Read the source article at European Rubber Journal