Doosan Heavy names preferred bidder for golf course

Doosan Heavy Industries & Construction said Monday that a group led by Hana Financial Investment is the preferred bidder for a golf course it owns.

Power plant builder Doosan Heavy is selling non-core assets to tide over a liquidity crunch.

The consortium, which bid 100.8 billion won ($84.1 million) for the golf course, will scrutinize its books for two weeks, the company said.

Doosan Heavy said it will complete the deal next month.

The Doosan Group is trying to pay 3.6 trillion won in debt extended by its main creditors, the Korea Development Bank and the Export-Import Bank of Korea.

Doosan Heavy plans to repay about 1 trillion won within this year by selling assets, including its 36 percent stake in construction equipment maker Doosan Infracore.

Doosan Corporation, the parent of the power plant maker, will sell business divisions including oil pressure machine maker Doosan Mottro and affiliates such as copper foil maker Doosan Solus and venture capital firm Neoplux.

Yonhap