Doosan Group seeks takeover of Czech turbine maker

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SEOUL, June 22 (Yonhap) -- Doosan Group, the owner of South Korea's leading
power-equipment maker, said Monday that it is seeking to buy a Czech turbine
maker, a deal that will help strengthen the conglomerate's power-equipment
manufacturing unit.

The deal, if successful, will be the latest in a series of takeovers sought by
Doosan, which purchased the world's top compact construction equipment firm,
Bobcat, as well as two other units for US$4.9 billion in 2007.
"We are seeking to buy Skoda Power AS, but the details have yet to be decided,"
said a spokesman at Doosan Corp., the group's defacto holding company. Market
experts said the deal is expected to be worth around 800 billion won ($630
million).
Doosan Group's key affiliates include Doosan Heavy Industries & Construction Co.,
the nation's leading power equipment maker, and Doosan Infracore Co., the
country's largest construction equipment maker.
Skoda Power, a subsidiary of Skoda Holdings, is a leading European manufacturer
and supplier of technological equipment in the field of power generation.
Shares of Doosan Heavy were trading at 70,200 won on the Seoul bourse as of 1: 04
p.m., unchanged from Friday's closing price.
sam@yna.co.kr
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