Hyundai Genuine Acquires Doosan Infracore Shares for 850 Billion KRW

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Heavy Industries Holdings announced on the 9th that its subsidiary Hyundai Genuine will acquire 75,509,366 shares of Doosan Infracore, a manufacturer of construction and mining machinery equipment, for 850 billion KRW.

After the stock acquisition, Hyundai Genuine's stake in Doosan Infracore will be 35%. Hyundai Heavy Industries Holdings stated that the purpose of this stock acquisition is "to secure management rights of Doosan Infracore."