Doosan sells packaging unit for 400 bln won

SEOUL, Nov. 13 (Yonhap) -- Doosan Corp., the flagship unit of South Korea's Doosan Group, said Thursday that it agreed to sell its packaging unit to a local private equity fund for 400 billion won (US$287 million).

The sale of the 100-percent stake in Doosan Techpack Co. is part of Doosan
Corp.'s plan to become the holding company of Doosan Group by the end of the
year, it said in a regulatory filing.
Doosan will get 193 billion won in cash from the sale of the unit to MBK
Partners, it said.
Its shares were trading at 79,500 won on the Seoul bourse as of 1:37 p.m., down
10.27 percent.
Doosan's business portfolio ranges from liquor, electronics to publishing and
apparel.
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