# Doosan Industrial Vehicle spun off from Doosan, to become subsidiary of Doosan Bobcat

Doosan Industrial Vehicle (formerly Doosan's Industrial Vehicle BG) has been spun off from Doosan as an independent company. It will become a subsidiary of Doosan Bobcat on July 5, 2021, after Doosan Bobcat agreed to acquire the business for KRW 750 billion.

- Type: Acquisition
- Announced: 2021-07-01
- Where: South Korea
- Value: $670.0M (750.0B KRW)
- Status: completed
- Products: forklifts, warehouse equipment
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Doosan](https://endata.com/companies/4295.md) (partner)
- [Doosan](https://endata.com/companies/4295.md) (target)
- [Doosan Bobcat](https://endata.com/companies/11956.md) (acquirer)
- [Doosan Industrial Vehicle](https://endata.com/companies/56173.md) (target)
- [DIV Business Group](https://endata.com/companies/56264.md) (target)
- [Doosan Industrial Vehicles](https://endata.com/companies/56275.md) (target)

## Sources

- [businesspost.co.kr](https://www.businesspost.co.kr/BP?command=article_view&num=238723), 2021-07-01: "두산밥캣은 올해 3월 두산으로부터 산업차량 사업부를 7500억 원에 인수하기로 했으며 인수절차는 5일 마무리 된다."
- [earthmoversmagazine.co.uk](https://www.earthmoversmagazine.co.uk/news/view,doosan-bobcat-acquires-div-business-group_4730.htm), 2021-07-06: "Doosan Bobcat completed the acquisition of a 100% stake in DIV on July 6th 2021, for KRW 750 billion (557 million euros)."
- [constructionbriefing.com](https://www.constructionbriefing.com/news/forklifts-subsidiary-added-to-doosan-bobcat/8013357.article?zephr_sso_ott=5BMnNe), 2021-07-06: "Doosan Bobcat has announced the acquisition of Doosan Industrial Vehicles (DIV) for KRW 750 billion (US$661 million)."
- [warehousenews.co.uk](https://warehousenews.co.uk/2021/09/div-now-part-of-doosan-bobcat/), 2021-09-04: "Doosan Bobcat has announced a new subsidiary – Doosan Industrial Vehicles (DIV)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.