SEOUL, Feb. 26 (Aju News) -- Doosan Heavy Industries & Construction Co. said Monday that it has selected a local consortium as the preferred bidder for a controlling stake in its marine engine-making unit.
Two South Korean private equity funds -- Socius Advisors and Well to Sea Investment Co. -- formed a consortium to purchase the stake in Doosan Engine Co., Doosan Heavy said in a regulatory filing.
Last year, Doosan Group selected Credit Suisse as the lead manager for the sale of a 44.66 percent stake in Doosan Engine. Doosan Engine posted an operating profit of 13.5 billion won (12.5 million US dollars) last year on sales of 768.9 billion won.
(Yonhap)
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