KKR, Carlyle considering buying Doosan machine tools unit: Korea Economic Daily

KKR & Co LP and Carlyle Group LP are among the private equity firms considering buying Doosan Infracore‘s machine tools business, the Korea Economic Daily newspaper reported on Thursday.

Analysts said the sale could fetch up to 2 trillion won ($1.7 billion).

Other interested parties include MBK Partners and a private equity affiliate of Standard Chartered, the newspaper said, citing unnamed investment bankers. The potential investors have either visited the business or are planning to do so to conduct due diligence, it added.

MBK, KKR and Carlyle declined to comment. Doosan Infracore also declined to comment on the progress of the sale.

Doosan Infracore put up the business for sale in November to cut debt as it reported a third-quarter net loss of more than 200 billion won. Credit Suisse is advising the company on the sale.

The machine tools business has maintained a normalized EBITDA of around 200 billion won per year for the past three to four years, Doosan said in a statement.