Hyundai Close To Doosan Infracore Stake?

By Mike Brezonick16 December 2020

South Korea’s Hyundai Heavy Industries Group (HHIG) is part of a group that has been selected as the preferred bidder for Doosan Infracore and is close to acquiring a 36.07% stake in the company.

HHIG’s bid for Infracore, the construction business of Korea’s Doosan Group, is estimated to be around $555.8 million. The potential acquisition does not include Doosan’s Bobcat Division, which accounted for 57% of Infracore’s revenue in 2019.

Doosan Group is reportedly looking to sell the Infracore business to alleviate a debt load rumored to be in the neighborhood of $3.6 billion.

If HHIG’s offer goes through, it would move Hyundai into the top 15 of global construction equipment manufacturers. HHIG’s partner in the acquisition is a division of the Korea Development Bank, a state-run financial institution.

Others still reportedly in contention to acquire the share of Infracore are private equity firms MBK Partners and Glenwood Private Equity.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
Technological advances in skid steers
The latest advances in technology are giving greater benefits to skid steer operators
Mini excavators: new tech and alternative power
An increasingly common piece of equipment on construction sites, demand for mini excavators is growing across many worldwide markets
ConTech: Not a silver bullet, but a long-term partner
Matt Desmond of technology giant Hexagon’s Heavy Construction division, talks to Construction Europe about the benefits to contractors of adopting digital technology
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA