Regulator approves Hyundai deal for Doosan Infracore

By Andy Brown27 July 2021

The DX800LC-7, Doosan's largest ever excavator The DX800LC-7, Doosan's largest ever excavator

According to media reports in South Korea, the country’s antitrust regulator has approved a deal by Hyundai Heavy Industries Holdings Co. (HHIH) to buy Doosan Infracore Co., the country’s largest construction equipment maker.

On the most recent Yellow Table, International Construction’s ranking of the world’s top 50 OEMs by sales, Doosan was ranked as the world’s tenth biggest construction OEM.

In February this year HHH agreed to acquire a 35% stake in in Doosan Infracore for 850 billion won (US$735 million) from its parent company, Doosan Heavy Industries & Construction Co., which has been looking to sell shares and assets to improve its financial structure and repay debts

The Korea Fair Trade Commission said it has given the green light to the proposed deal as it is not likely to hurt market competition.

The regulator said the approval of the deal will help Doosan Heavy smoothly proceed with its corporate restructuring process and Hyundai Genuine strengthen competitiveness in the construction equipment market in South Korea and abroad.

MAGAZINES
NEWSLETTER
Delivered directly to your inbox, Diesel News Network newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Mike Brezonick VP, Power Division Tel: +1 262 754 4112 E-mail: mike.brezonick@khl.com
Alister Williams VP Sales Tel: +1 843 637 4127 E-mail: alister.williams@khl.com
CONNECT WITH SOCIAL MEDIA
Latest News
Scania introduces new Touring coaches
The new Scania Touring models feature increased maximum weight capacity and new driver aids
Wireless control for Onan gen-sets
Targets diesel and gas generator sets used in recreational vehicle applications
Epiroc to acquire battery conversion specialist FVT Research
Canadian company has expertise in converting diesel-powered mining machines to battery-electric vehicles.