by Kyle Molyneux | Tue 29 Sep 2020
Hyundai to buy stake in Doosan Infracore?
According to Korean Investors, Hyundai Heavy Industries Group and KDB Investment (part of Korea Development Bank) are attempting to buy a controlling stake in Doosan Infracore Company. Earlier this year, it was reported that Doosan Group was looking to sell its stake in the construction machinery manufacturing company to pay off loans owed to South Korean state-owned banks.
Hyundai Heavy Industries Group (a shipbuilding and marine propulsion systems specialist) is not the only party interested in acquiring a chunk of Doosan Infracore Company. MBK Partners (a North Asian private equity firm) and Glenwood Private Equity (an investment company) have also submitted non-biding bids for a controlling stake, says the news story.
Doosan Infracore Company is currently valued at around $850m (£662m). Following the on-going financial restructuring, Doosan Group hopes to retain its control of the profitable Doosan Bobcat company.
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