Hyundai Heavy to finalize deal to acquire Doosan Infracore in early Feb.
SEOUL, Hyundai Heavy Industries Holdings Co. (HHIH) said Friday it will finalize a deal to acquire Doosan Infracore Co., the nation’s top construction equipment maker, through a consortium by early next month.
The HHIH-led consortium delayed the date to complete the deal from Jan. 31 to Feb. 5 under an agreement with Doosan Heavy Industries & Construction Co., Doosan Infracore’s parent company, HHIH said in a regulatory filing.
On Dec. 10, the consortium was picked as the preferred bidder for the 35.4 percent stake held by South Korean power plant builder Doosan Heavy in Doosan Infracore.
The consortium inked an initial deal for the acquisition on Dec. 23.
Source: Yonhap News Agency