Doosan Infracore picks SCPE to negotiate sale of tool division

Home > Business > Industry

print dictionary print

Doosan Infracore picks SCPE to negotiate sale of tool division

Doosan 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.

More in Industry

No dial tone for 2G services on LG U+ starting in June

Ironing out an air corridor took decades

Kia reinvents itself, promising 'movement that inspires'

Hanwha Energy teams up with France's Total in U.S.

Scatter Lab investigated, but not for odd messages

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now