Doosan Bobcat-Doosan Robotics Comprehensive Stock Swap Withdrawal

Doosan Enerbility-Robotics Split and Merger Plan Continues to Be Pursued

Doosan Bobcat and Doosan Robotics announced on the 29th that they each held a board meeting and resolved to cancel the comprehensive stock swap agreement that had been pursued for business structure reorganization.

Each company issued a shareholder letter in the name of their CEO, stating, "Even if the direction of the business structure reorganization is expected to be positive, we believe it will be difficult to proceed without sufficient support from shareholders and the market," and added, "We intend to continue seeking ways to create synergy between the two companies, including reconsidering the business structure reorganization in the future based on communication with the market and improvements in regulations."

Bundang Doosan Tower, Seongnam-si, Gyeonggi Province
Photo by Doosan Group

The spin-off merger between Doosan Enerbility and Doosan Robotics will continue to be pursued.

A Doosan Enerbility official emphasized, "As explained in the shareholder letter earlier this month, at this moment when unprecedented business opportunities arise due to the global boom in the nuclear power sector, it is essential to secure investment capacity through this business restructuring to timely expand production facilities." Upon completion of this spin-off merger, Doosan Enerbility will secure approximately 1 trillion KRW in new investment capacity by reducing borrowings by 700 billion KRW.

Doosan Enerbility and Doosan Robotics will faithfully reflect the correction requirements from financial authorities, submit amended reports, and reestablish the schedule for shareholder meetings and other proceedings after gathering market opinions.