Kumho Asiana Group will buy back Kumho Buslines from IBK Securities-Keistone Partners (IBK Fund), according to the Korea JoongAng Daily.

Park Sam-koo, the group’s chairman, wants to buy back the company because the entire group was founded on Kumho Buslines after his father founded it in 1946.

The price of the sale has not been disclosed, but is estimated that Kumho Buslines is being sold for $450 million.

Along with the transportation company, Kumho Asiana is also attempting to buy back Kumho Industrial, which is the majority stakeholder in Asiana Airlines.

Kumho Asiana Group is the parent company of Kumho Tire.

Source: tirereview.com