Doosan Solus Sold to Private Equity Firm Skylake for 698.6 Billion KRW
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Doosan's flexible printed circuit board company, Doosan Solus, was sold to the private equity firm SkyLake Investment for approximately 698.6 billion KRW.
Doosan Corporation announced on the 4th that it will sell an 18.05% stake in Doosan Solus to SkyLake Investment for 238.2 billion KRW. The majority shareholder's 34.88% stake will be sold for 460.4 billion KRW.
The transaction closing date is October 30.
Doosan Corporation stated that the proceeds from the sale of Doosan Solus will be used as resources to improve the group's financial structure.
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Doosan Corporation will spin off its Motor Division and sell it to the Socious-Welltouch consortium for 453 billion KRW.
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