Doosan Enerbility, parent company to Bobcat Co., has sold a 4.99% in the company, according to a June 21 report from The Korea Economic Daily. The sale leaves Doosan Enerbility with a minority ownership of Bobcat Co. at 46.06%.
The total value of the sale was $213.6 million at the time of publication. Doosan Enerbility said it has no plans for additional divestment and will retain management rights to Bobcat Co. as its largest shareholder.
The sale proceedings will be used to fund "fund new growth businesses," the report said.