Doublestar may officially become the controlling shareholder of Kumho

The board of directors of Doublestar has approved a deal plan to gain control over Kumho. In particular, the company plans to acquire assets through the issuance of shares and payment of cash, and ultimately achieve the goal of indirectly owning 45 percent of Kumho's shares and becoming the controlling shareholder of Kumho.

Prior to this, the controlling shareholder of Doublestar, Doublestar Group, and several other Chinese companies jointly owned this portion of the capital. In other words, after this deal, Doublestar will be able to officially manage Kumho's operations.