Negotiations between Kumho and investment group are getting serious

Nov. 2, 2001

A group of investment bankers are negotiating to buy Kumho Tires, the South Korean-based parent company of Kumho Tires U.S.A. Inc.

Although "nothing has been finalized yet," a company spokesman was optimistic the deal would be completed during the second or third quarter of 2002.

The spokesman said negotiations have been ongoing for two or three months. He would not identify the investment group.

The transaction, if completed, is more of "a money infusion," and will not affect Kumho's North American dealers, he said. "We'll keep the Kumho brand and the same management."