Hyundai Group seals Doosan Infracore deal

By Murray Pollok08 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.

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
10 ways to join the hydrogen power revolution
Interest in the use of hydrogen has soared over the past few years as the construction industry races to reduce its carbon footprint. We roundup some recent initiatives
Telescopic boom lifts - the trends
Higher capacities and 100% electric models are the trend. And what lies ahead for 200ft models, or above?
How construction can become sustainable
The construction industry is undergoing a transformative shift to adapt more environmentally friendly practices
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