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Kumho Industrial creditors to sell collective stake in firm for $623 million

2015-09-19 09:22:58| Industrial Machines - Topix.net

Creditors of South Korea's Kumho Industrial Co Ltd have agreed to sell their collective majority stake in the firm to the chairman of Kumho's former parent group for 723 billion Korean won , one of the creditor banks said on Friday. Korea Development Bank, in a text message to reporters, said creditors have reached an agreement on the sales price for their collective shares, which amounts to one share more than 50 percent.

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