China’s Doublestar to buy 42% of South Korea’s Kumho Tire in $830m deal

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

China’s Qingdao Doublestar Co. said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tiremaker in a deal that could enable Doublestar to further expand in China.

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