January 18, 2017 / 8:56 AM / 8 months ago

China's Qingdao Doublestar is preferred bidder to buy S.Korea's Kumho Tire

SEOUL, Jan 18 (Reuters) - Chinese tyre maker Qingdao Doublestar Co Ltd was chosen as the preferred bidder to buy a controlling stake in South Korean tyremaker Kumho Tire Co Inc, Kumho Tire said on Wednesday, without disclosing the bid price.

Lead creditor Korea Development Bank and other Kumho creditors had put up for sale a 42 percent stake in the tyremaker last year. (Reporting by Joyce Lee and Hyunjoo Jin; Editing by Muralikumar Anantharaman)

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