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Spinoff of Doosan Corporation’s Industrial Forklift Manufacture/Sales Business

2021-03-11

Lee & Ko advised on the spinoff of Doosan Corp.’s industrial forklift manufacture/sales business into a stock company tentatively named ‘Doosan Material Handling Solution Co., Ltd. Once formed, Doosan Bobcat Inc. will acquire 100% of the issued shares of the Target. In connection with this transaction, Doosan Corp. entered into a Share Purchase Agreement with Doosan Bobcat on March 11, 2021, with the spinoff slated to take place during 2021. Lee & Ko was the main transaction counsel for Doosan Corp. and provided comprehensive legal advisory services on this transaction, including due diligence on the relevant business, assistance in the spinoff, and on the negotiation and execution of the transaction documents. 

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