BDA Advises Doosan Enerbility on Sale of Doosan Power Systems India to Casagrand Builder
New York, NY, July 24, 2024 --(PR.com)-- 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.”
BDA Deal team
Howard Lee, Partner, Head of Seoul
Kumar Mahtani, Partner, Head of Industrials, India
Kunal Dattani, Director, Mumbai
Nils Weng, Vice President, London
SangHyuk Yoon, Vice President, Seoul
Mohit Kabra, Analyst, Mumbai
About Doosan Power System India Private Limited (DPSI)
DPSI, a subsidiary of Doosan Enerbility, has been at the forefront of boiler manufacturing and power plant solutions. The company’s commitment to quality and innovation is demonstrated by its Phased Manufacturing Programme (PMP) certifications, reflecting its adherence to stringent operational standards in India. https://www.doosanpowersystemsindia.com/en/
About Doosan Enerbility Co., Ltd. (“Doosan Enerbility”)
Doosan Enerbility (KRX: 034020), previously known as Doosan Heavy Industries & Construction, is a global leader in power generation, energy and desalination plant solutions, with a presence in 40 countries and a substantial order backlog of approximately US$14bn. www.doosanenerbility.com/en
About Casagrand Builder Private Limited (“Casagrand”)
Established in 2004, Casagrand Builder Private Limited has emerged as a leading real estate enterprise in Southern India with over 140 landmark properties. The company’s expansive portfolio, encompassing luxury residences across key southern cities, exemplifies its commitment to excellence in real estate development. https://www.casagrand.co.in/
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.
BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets.
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com
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.”
BDA Deal team
Howard Lee, Partner, Head of Seoul
Kumar Mahtani, Partner, Head of Industrials, India
Kunal Dattani, Director, Mumbai
Nils Weng, Vice President, London
SangHyuk Yoon, Vice President, Seoul
Mohit Kabra, Analyst, Mumbai
About Doosan Power System India Private Limited (DPSI)
DPSI, a subsidiary of Doosan Enerbility, has been at the forefront of boiler manufacturing and power plant solutions. The company’s commitment to quality and innovation is demonstrated by its Phased Manufacturing Programme (PMP) certifications, reflecting its adherence to stringent operational standards in India. https://www.doosanpowersystemsindia.com/en/
About Doosan Enerbility Co., Ltd. (“Doosan Enerbility”)
Doosan Enerbility (KRX: 034020), previously known as Doosan Heavy Industries & Construction, is a global leader in power generation, energy and desalination plant solutions, with a presence in 40 countries and a substantial order backlog of approximately US$14bn. www.doosanenerbility.com/en
About Casagrand Builder Private Limited (“Casagrand”)
Established in 2004, Casagrand Builder Private Limited has emerged as a leading real estate enterprise in Southern India with over 140 landmark properties. The company’s expansive portfolio, encompassing luxury residences across key southern cities, exemplifies its commitment to excellence in real estate development. https://www.casagrand.co.in/
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.
BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets.
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com
Contact
BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com
Euan Rellie
212-265-5300
www.bdapartners.com
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