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Doosan Heavy-construction unit sale

Doosan Heavy mulls unloading stake in construction affiliate

By Nam Kwang-sik

SEOUL, Nov. 4 (Yonhap) -- Doosan Heavy Industries & Construction Co. said Thursday it is considering selling a stake in its construction subsidiary Doosan Engineering & Construction Co. to improve its financial health.

A local media company reported that Doosan Heavy, the country's largest power equipment maker, is looking at the option of unloading its stake in Doosan Engineering.

In a regulatory filing, Doosan Heavy confirmed the report but said, "Nothing has been decided yet."

Doosan Heavy has been seeking to improve its financial footing since early last year, by selling assets, including its stake in affiliates.

It sold a controlling stake in its construction equipment subsidiary Doosan Infracore Co. to Hyundai Heavy Industries Holdings Co. (HHIH) in August.

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