UPDATE 1-Cooper to sell stake in Kumho for $109 mln

Newswire

(Adds details, backgrounds) SEOUL, July 29 (Reuters) - Kumho Tires Co Ltd is seeking investors to take over a $109 million stake in itself that U.S.-based Cooper Tire & Rubber Co plans to sell, an official at the South Korean company said on Tuesday. "Cooper's lock-up period ended at the end of May. Kumho is looking for financial or strategic investors," the official told Reuters by telephone, asking not to be identified. In 2005, Cooper bought a 10.71 percent stake in Kumho, South ...

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