Hyundai Group seals Doosan Infracore deal

Murray Pollok Managing Editor, IRN & Director of Content, KHL

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 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.

Global General Market & forecasts Industry News Construction Rental
STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]