Hyundai Group seals Doosan Infracore deal
08 February 2021
Media outlets in Korea are reporting that Hyundai Heavy Industries is to acquire a 34.97% share in Doosan Infracore from Doosan Heavy Industries & Construction for Korean Won 850 billion (€630 million).
Doosan Infracore is the heavy construction division of the Seoul-headquartered Doosan Group. The transaction does not include Doosan Bobcat, which accounted for 57% of Infracore’s 2019 revenues.
Construction machines from Doosan Infracore
The deal will mean that Hyundai will own Hyundai Construction Equipment as well as the Doosan Infracore construction equipment business.
Regulatory authorities in South Korea and other countries including China will be asked to approve the acquisition, with plans to complete the acquisition by the third quarter of 2021.
More to follow.
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
POWER SOURCING GUIDE
The trusted reference and buyer’s guide for 83 years
The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.
Visit Now
CONNECT WITH THE TEAM
