According to a report from The Korea Times, Doosan Group has put up its share of Doosan Infracore for sale. This has been interpreted as a way for the group to maintain control of Doosan Bobcat amid financial trouble.
The company is reportedly restructuring its Doosan Heavy Industries & Construction subsidiary, part of which includes selling its 36.27% share of Doosan Infracore, valued at 800 billion won ($660 million). The group's 51% stake in Doosan Bobcat has not been included in the sale, but there was reportedly pressure from creditors to sell it as well.
Large amounts of debt motivated the sale of Doosan Infracore, with the group reportedly scheduled to repay 4.2 trillion won ($3.5 billion) by the end of 2020. The group has filed for a bailout from state-run banks, resulting in lenders extending 3.6 trillion won ($3 billion) of loans and other financial support.
The report also said Doosan Group, " ... offered nearly 99% of its 51% stake in Bobcat as collateral and secured loans worth 984 billion won ― $600 million and 260 billion in won. This means the potential buyer of Doosan Infracore has to shoulder an enormous amount of outstanding loans ... "