Doosan Heavy sells stake in Doosan Infracore to HHIH
Posted : 2021-02-05 17:50
Doosan Infracore's excavator / Courtesy of Doosan Infracore
Korea's power plant builder Doosan Heavy Industries Construction said Friday that its board of directors has decided to sell the company's 35 percent stake in Doosan Infracore for 850 billion won ($757 million) to global shipbuilding holding company Hyundai Heavy Industries Holdings (HHIH).
Cash-strapped Doosan Heavy disposed of 76 million shares of its construction equipment unit Doosan Infracore to improve business efficiency and management structure, the company said in a regulatory filing.
On Dec. 10, a consortium led by HHIH was picked as the preferred bidder for the 35 percent stake in Doosan Infracore held by Doosan Heavy.
Hyundai Heavy picked as preferred bidder for Doosan Infracore
Posted : 2020-12-11 11:40
Updated : 2020-12-11 11:40
Hyundai Construction Equipment, an arm of Hyundai Heavy Industries Group, said Dec. 9 they sold a $40 million deal to rising foreign markets, including 30-ton excavators to Russia, shown above. Courtesy of Hyundai Construction Equipment
South Korea's power plant builder Doosan Heavy Industries Construction Co. said Thursday that it has tapped a consortium led by Hyundai Heavy Industries Holdings Co. (HHIH) as the preferred bidder for the sale of its 35.4 percent stake in Doosan Infracore Co.
Doosan Heavy Industries Construction said in an emailed statement it will conclude the deal with the consortium led by HHIH to sell its entire stake in Doosan Infracore. It did not provide a specific time frame.