Monday June 22, 03:49 AM
S.Korean group bids for Czech turbine maker
SEOUL (AFP) - South Korea's Doosan Group has said it is seeking to buy Czech turbine company Skoda Power for about 700-800 billion won (552-630 million dollars).
"It is not yet decided which affiliate of the group will acquire Skoda as the deal is under way," said group spokesman Bae Kyun-Ho.
Doosan (000150.KS - news) companies produce power plants, industrial facilities, machine tools and automation systems, engines, bridges and construction equipment.
The flagship firm Doosan Infracore (042670.KS - news) in 2007 announced a 4.9 billion dollar deal to buy three construction equipment units from US firm Ingersoll-Rand, the largest overseas takeover in Korean history.
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