Korea Based Doosan Acquires AE&E's Indian Power Unit
by Charmi Gutka
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.
ValueFirst Messaging Pvt Ltd has raised Rs.70 Cr (around $15 Mn) from Headland Asian Ventures Fund 3 (HAV3) and existing investor New Enterprise Associates (NEA).The funds raised will be used for acquisitions in India ...