FONTANA, CA --
Kumho Industrial Co. has sold its 32.1 percent share in Kumho Tire Co. to its Kumho Petrochemical Co. unit.
Kumho Industrial sold the 22.5 million shares it held in Kumho Tire to Kumho Petrochemical for $351 million, making the petrochemical group Kumho Tire’s single largest shareholder.
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