Hyundai Heavy Industries Holdings Co. (HHIH) and ready-mixed concrete maker Eugene Group submitted their final bids for a 36 percent stake in Doosan Infracore Co., which may fetch up to 1 trillion won.
Doosan Infracore has been up for sale as part of its cash-strapped parent Doosan Heavy Industries & Construction Co.'s self-rescue plan.
Last March, Doosan Heavy obtained a cash injection of 3 trillion won from its creditors, including the KDB, to prepare itself for its short-term debts worth 4.2 trillion won, which should be paid within this year.
In September, HHIH formed a consortium with Korea Development Bank Investment (KDBI) to join preliminary bidding for the stake up for sale.
The groups that discontinued their bids were GS Engineering & Construction Corp. and local private equity funds Glenwood PE, MBK Partners, and Eastbridge Partners.
GS Engineering & Construction participated in the preliminary deal by forming a consortium with private equity fund Dominus Investment.
Three local private equity funds joined in the preliminary deal.


Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
Ford and Geely Explore Strategic Manufacturing Partnership in Europe
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 



