TO SEEK OVERSEAS M&AsThrough the subsidiary reorganization, Doosan Group aims to grow bigger and climb Korea’s corporate ladder.With Doosan Corp.’s share prices rising 157% this year, the conglomerate’s assets have grown to over 30 trillion won, becoming Korea’s seventh-largest conglomerate in terms of market capitalization.“Following the internal integration and regrouping, Doosan Robotics and other major group affiliates are expected to seek M&As in overseas markets,” said an investment banking industry official.
The move is part of nuclear reactor-to-machinery conglomerate Doosan Group’s governance restructuring to transform into a smart machine business leader.Doosan Corp., the group’s holding company, said in a regulatory filing on Thursday that all three relevant affiliates held respective board meetings and approved the reorganization plan earlier in the day.
Doosan Enerbility Co., a leading South Korean power plant engineering company, is handing over its entire 46% stake in machinery affiliate Doosan Bobcat Inc.to Doosan Robotics Inc., which eventually plans to delist Bobcat after acquiring a 100% stake in the tractor maker.
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