Wed December 16, 2020 - National Edition
Hyundai
Doosan Infracore. Once the acquisition process is completed, the group's affiliate
Hyundai Construction Equipment, combined with Doosan Infracore, will become the No. 5 player in the global construction machinery market, according to HHIG.
Doosan Group selected the HHIG-KDB Investment Consortium as the preferred bidder and reported it to its creditors, including Korea Development Bank. The two sides aim to conclude the main contract by the end of 2020 after two to three weeks of additional negotiations.
HHIG will acquire a 36.07 percent stake in Doosan Infracore, excluding Doosan Bobcat. The acquisition price is said to be in the mid-700 billion won range, which is lower than the market's initial estimate of 800 billion won to 1 trillion won.