Not keen to re-enter race for Kumho Tire: Apollo Tyres_Not keen to re-enter race for Kumho Tire: Apollo Tyres

Not keen to re-enter race for Kumho Tire: Apollo Tyres

May 30, 2024

MUMBAI: Apollo Tyres on Tuesday said it has no intention of selling South Korea’s Kumho Tire Industries to a Chinese buyer as it has not tried to re-enter the acquisition process.

“Apollo Tyres strongly denies that competition with Kumho Tyres has resumed,” adding, “We again emphasize that we have no intention of interfering in the Kumho Tyres purchase process.”

The Economic Times reported on Monday that Apollo will re-purchase Kumho Tires. Kumho creditors are entering into a formal process to sell the company. We sent an e-mail to a company spokesperson Saturday morning, but as of Sunday, we had not received a response. This fact is mentioned in the story.

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