HD Korea Shipbuilding & Offshore Engineering acquires 100% of Doosan Enerbility Vietnam Co., Ltd. (Doosan Vina) for KRW 375.4bn

SI Industrials Power and port equipment manufacturing (Vietnam)

Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.

Deal value: $259m
Stake: 100%
Implied 100%: $259m
Revenue: $315m
Op. income: $22m
Multiples: EQV/EBIT 11.9xPSR 0.8x

Target: Doosan Enerbility Vietnam Co., Ltd. (Doosan Vina) · Power and port equipment manufacturing (Vietnam)
Buyer: HD Korea Shipbuilding & Offshore Engineering · SI
Seller: Doosan Enerbility
Structure: —
Announced: Aug 20, 2025
Closed: Dec 19, 2025
Stage: Closed

Target

Doosan Enerbility's Vietnamese subsidiary founded in 2006, operating a roughly 1 million m² complex with its own port in Dung Quat Economic Zone, Quang Ngai, producing thermal power boilers, port cranes, desalination equipment and LNG plant modules (KED Global).

Deal rationale

Doosan Enerbility stated the purpose as 'securing investment funds for core businesses through sale of non-core assets' and said proceeds would go to SMR and gas turbine capacity (Smart Today). HD KSOE said it would use the site as an Asian base for independent cargo tanks (key equipment for eco-friendly vessels) and port cranes; the acquisition closed in December 2025 and the unit was renamed HD Hyundai Ecovina (CEO Score Daily).

사업 재편·비핵심 매각생산능력 확대

Revenue	$315m
Operating income	$22m
EBITDA	—
Net income	—

2024 · Multiple reports agree (not yet checked against DART)

Press coverage

KED Global (2025-08-21): “agreed to buy a full stake in Doosan Vina, the Vietnamese unit of Doosan Enerbility Co., for 290 billion won”
CEO스코어데일리 (2025-12-19): “앞서 HD한국조선해양은 지난 8월 두산에너빌리티와 총 2900억원 규모의 주식 매매 계약을 체결한 바 있다.”
스마트투데이 (2025-08-20): “비핵심자산 매각을 통한 주력사업 투자 재원 확보”

This is a data entry summarising filings and press reports. Please check the original sources for the figures.