S.Korea's Kumho Tire sale attracts about 10 parties - source

Kumho Tire

10/11/2016 01:30

SEOUL, Nov 10 (Reuters) - About 10 parties expressed 
interest in buying a controlling stake in South Korean tyremaker 
Kumho Tire Co Ltd  073240.KS , a source with direct knowledge of 
the matter said on Thursday. 
    The source, who declined to be identified as they were not 
authorised to speak to media, did not identify the parties but 
said creditors would soon approve a shortlist of bidders cleared 
for the next round of bidding, currently expected in January.  
    Non-binding bids were due this week to buy a 42 percent 
stake in the world's 12th-biggest tyremaker, estimated by 
analysts to be worth around 1 trillion won ($893.2 million). 
 urn:newsml:reuters.com:*:nL3N1BW2VE 
    A spokesman for Korea Development Bank, Kumho Tire's main 
creditor, declined comment.  
     
 
 (Reporting by Joyce Lee; Editing by Stephen Coates) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: KUMHO TIRE M&A/