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Hyundai Heavy Industries Holdings Co. postponed finalizing a deal to acquire a 35.4 percent stake held by South Korean power plant builder Doosan Heavy in Doosan Infracore on February 5.
The deal's completion was set for Jan. 31 until the parties agreed to the postponement.
On Dec. 10, the HHIH-led consortium was picked as the preferred bidder for the Doosan Ifracore stake. The initial deal for the acquisition was inked on Dec. 23.
Doosan Infracore's sales soared 18 percent last year from the previous on increased demand for high-end excavators.
Last year, Doosan Infracore sold over 4,000 units of construction equipment, including excavators and wheel loaders, in the local market, marking its highest annual sales since 2011.
Doosan Infracore continued its momentum in 2021, and recently won an order for 221 excavators from Beaulock, a French construction equipment rental firm.
