koreas-doosan-closes-record-ma-deal

Korea's Doosan closes record M&A deal

Doosan Corporation buys three business units from Ingersoll Rand for $4.9 billion in the country's largest outbound M&A transaction.
South KoreaÆs Doosan Corporation will buy the bobcat, utility equipment and attachments business units of Ingersoll Rand for $4.9 billion. Investors responded favourably to the deal, pushing the company's shares up 15% yesterday.

Doosan has acquired businesses engaged in the manufacture and sale of compact equipment, general-purpose light construction equipment and attachments. In calendar 2006, the combined businesses produced revenues of $2.6 billion, suggesting the deal has been transacted at a sales multiple of 1.9 times. Profit numbers for the divisions were not disclosed.

As part of the sale, Doosan will acquire Ingersoll RandÆs manufacturing facilities in the US states of North Dakota, Georgia, Minnesota and Virginia, as well as facilities in China, the Czech...
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