Doosan Group to Promote Sale of Doosan Construction to Q Capital Consortium

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[Asia Economy Reporter Jeong Hyunjin] Doosan Group is pursuing a plan to sell Doosan Construction to a consortium led by the domestic private equity firm Q Capital Partners. If Doosan Group sells its construction subsidiary, the restructuring process will be virtually complete.

According to the investment banking (IB) industry on the 12th, Doosan Group is in the final stages of negotiations with the Q Capital consortium for the sale of Doosan Construction. It is reported that Shin Young Private Equity (PE) and others are participating in the acquisition consortium. The transaction target is 100% of the shares of Doosan Construction held by Doosan Heavy Industries, with the amount estimated to be around 400 billion KRW.

Q Capital is an asset management firm specializing in mid-cap investments. Its representative investment portfolio includes chicken franchises Genesis BBQ, Norang Tongdak, and Kakao VX.

If Doosan Group sells Doosan Construction, it will be equivalent to completing the final stage of fulfilling the financial structure improvement agreement made with creditors. Previously, Doosan negotiated with Daewoo Industrial Development last summer to sell Doosan Construction. Once the sale of Doosan Construction is finalized, Doosan Group is expected to graduate from creditor management.

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