Doosan Infracore picks SCPE to negotiate sale of tool divisionDoosan Infracore, a machinery subsidiary of Doosan Group, has selected Standard Chartered Private Equity (SCPE) as its priority negotiation partner for the sale of its machine tool division on Wednesday.
The machine tool division is one of three major business fields of Doosan Infracore, together with construction equipment and engines. SCPE is a private equity funds arm of global financial group Standard Chartered.
While the machine tool division is a lucrative business unit of the company, the decision came as a restructuring measure to stabilize its corporate finance management.
The price for the sales is set at 1.36 trillion won ($1.15 billion), lower than the original expectations of 1.5 trillion won.