Cooper Tire to sell 11 pct stake in S.Korea Kumho

Newswire

SEOUL, July 29 (Reuters) - U.S.-based Cooper Tire & Rubber Co has said it planned to sell off its 10.71 percent stake in South Korea's Kumho Tires Co Ltd , a Kumho official said on Tuesday. "Cooper's lock-up period ended in end of May. Kumho is looking for financial or strategic investors," the official told Reuters by telephone. Cooper bought the stake in 2005. Kumho, whose shares closed 3.1 percent lower at 8,500 won, had a market value of 595 billion won ($588.8 million) as ...

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