As previously reported, four Chinese companies and Apollo India were involved in the bid. Among them, Shanghai Aerospace Industry Corporation (SAIC) is considered to be the most favorable bidder.
Kumho Tires
Shanghai Aerospace Industry Corporation is a subsidiary of China State-owned China Aerospace Science and Technology Corporation (CASC) and specializes in the aerospace and automotive industries.
The remaining three bidders are Qingdao Double Star, Jiangsu Jinpu Group and Linglong Tire Co., Ltd.
According to the Korea Times, at the end of the tendering process, Park Sanga, chairman of Kumho Asiana Group, has the right to buy back shares at the highest bid.
Kumho is South Korea's second-largest tire manufacturer, and the company’s share sale is expected to reach KRW 1 trillion (€790 million).
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