Mar 02, 2017
Although the chairman of Kumho Asiana Group Park Sam-Koo states that there is sufficient funds at its disposal to repurchase the share Kumho Tire creditors, some still doubt that this deal goes through. Online edition of Investor reports, which belongs to the The Korea Herald, notes that many observers doubt Park's ability to pay 87.6 million. $ Of the first payment for the transaction.
As reported in South Korean media, the winning bid in the primary Qingdao Doublestar company is located "at the final stage of the negotiations prior to the signing of the agreement with creditors to buy shares." The agreement must be signed by the end of this week.
If Park wishes to exercise its right of pre-emption, it is necessary to pay in advance 10% of the transaction amount. Although he claims that the investors provide it with the necessary funds, he still does not reveal exactly who will give him the necessary sum.