New York, NY, July 26, 2024 –BDA Partners is pleased to announce that its client, Doosan Enerbility, has sold the assets of Doosan Power Systems India Pte Ltd (“DPSI”) to Casagrand Builder Pte. Ltd., a prominent real estate firm in Chennai, India. This transaction marks a significant step in Doosan Enerbility’s strategic refocus towards its core competencies and energy transition goals.
BDA was the exclusive financial advisor to Doosan Enerbility on the transaction. Terms of the transaction were not disclosed. This is BDA’s fifth transaction for Doosan since 2021.
DPSI, renowned for its advanced boiler technology and power plant solutions, has been a significant player across the global energy sector. DPSI’s portfolio includes the construction of 29 Ultra Super Critical (“USC”) boilers worldwide. Its expertise extends to the world’s largest 700°C Hyper Super Critical (“HSC”) boiler. DPSI’s legacy spans two decades, showcasing unparalleled experience in the design and manufacture of USC boilers.
BDA’s expertise was instrumental in identifying and segregating these non-core assets, aligning with Doosan’s strategic shift towards sustainable energy. This marks the fifth transaction with Doosan since 2021.
Howard Lee, Partner and Head of BDA Seoul, said, “This transaction represents a pivotal moment for Doosan Enerbility in its pursuit of innovation and leadership in the energy sector. BDA’s role underscored the strategic importance of aligning asset portfolios with core business objectives. We’re proud to have facilitated this significant move for Doosan.”
Kumar Mahtani, Partner and Head of Industrials, India, added, “The successful divestiture of DPSI’s assets to Casagrand exemplifies BDA’s proficiency in complex cross-border transactions, and highlights our commitment to supporting clients’ strategic realignments. We’re confident that this move will foster new growth opportunities for both Doosan Enerbility and Casagrand.”