KKR, Carlyle considering buying Doosan machine tools unit-Korea Economic Daily

HD Hyundai Infracore Co

03/12/2015 02:11

SEOUL, Dec 3 (Reuters) - KKR & Co LP  KKR.N  and Carlyle 
Group LP  CG.O  are among the private equity firms considering 
buying Doosan Infracore's  042670.KS  machine tools business, 
the Korea Economic Daily newspaper reported on Thursday. 
    Analysts said the sale could fetch up to 2 trillion won 
($1.7 billion).  
    Other interested parties include MBK Partners and a private 
equity affiliate of Standard Chartered, the newspaper said, 
citing unnamed investment bankers. The potential investors have 
either visited the business or are planning to do so to conduct 
due diligence, it added. 
    MBK, KKR and Carlyle declined to comment. Doosan Infracore 
also declined to comment on the progress of the sale.   
    Doosan Infracore put up the business for sale in November to 
cut debt as it reported a third-quarter net loss of more than 
200 billion won. Credit Suisse is advising the company on the 
sale.  
    The machine tools business has maintained a normalized 
EBITDA of around 200 billion won per year for the past three to 
four years, Doosan said in a statement.     
($1 = 1,161.7100 won) 
 
 (Reporting by Joyce Lee in SEOUL and Elzio Barreto in HONG 
KONG; Editing by Miral Fahmy) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: DOOSAN INFRACORE M&A/CARLYLE GROUP KKR