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Mergers & Acquisitions | 1 February 2011

Korea Based Doosan Acquires AE&E's Indian Power Unit

by Charmi Gutka
Korea Based Doosan Acquires AE&E's Indian Power Unit
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South Korean firm Doosan Heavy Industries and Construction Company has acquired Austria-based AE&E (Austria Energy & Environment) Group's Indian unit - AE&E Chennai Works Limited for 20.5 Mn Euros (around $28.15 Mn).

With this deal Doosan gets a manufacturing base in India for power plant boilers.

In last few years, Doosan has secured orders for power plants in India and was looking for manufacturing base in India.

Transaction Reference: The Hindu Business Line


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