Hyundai-led consortium named preferred bidder for Doosan Infracore stake

A Hyundai Heavy Industries Holdings Co. (HHIH)-led consortium has been named the preferred bidder for Doosan Heavy Industries & Construction Co.'s 35.4 percent stake in Doosan Infracore Co.

According to power plant builder Doosan Heavy Industries, it will conclude the deal with the consortium led by HHIH to sell its entire stake in Doosan Infracore stake.

It did not provide a specific time frame.

HHIH, the holding firm of the country's largest shipbuilder, vowed to do its best to strike a deal for the Doosan Infracore stake.

HHIH has South Korea's second-largest construction equipment maker Hyundai Construction Equipment Co. under its wing.

HHIH, a consortium of Korea Development Bank Investment, and ready-mixed concrete maker Eugene Group all submitted bids on Nov. 24.