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Hyundai Heavy's Doosan Infracore buyout cleared by South Korean competition regulator

By Jenny Lee ( July 27, 2021, 04:50 GMT | Insight) -- A $739 million deal by a unit of Hyundai Heavy Industries Holdings, Hyundai Genuine, to acquire a controlling stake in Doosan Infracore, South Korea’s largest construction-equipment maker, received the green light from the country’s competition regulator. The Korea Fair Trade Commission said the clearance is based on the conclusion that the transaction poses no risk of significantly restricting competition in the relevant sectors, which include excavators and wheel loaders.A 850 million won ($739 million) deal by a unit of Hyundai Heavy Industries Holdings, Hyundai Genuine, to acquire a controlling stake in Doosan Infracore, South Korea’s largest construction-equipment maker, was given the green light from the country’s competition regulator....

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