S.Korea Doosan aims to buy Czech firm for $633 mln

South Korea's Doosan Group is planning to buy a Czech turbine maker, Skoda Power, in a deal that is expected to be worth about $633 million, a spokesman at Doosan Corp said on Monday.

The acquisition, if successful, would complement Doosan's power equipment business by adding Skoda-owned turbine technologies.

"Our group is pursuing the deal, but details such as which unit in Doosan Group would acquire (Skoda Power) have yet to be set," the spokesman said. "The deal is expected to be worth about 800 billion won ($632.8 million)."

Shares in Doosan Corp, the de-facto holding company of the group, had risen 1.46 percent as of 0026 GMT, outperforming the wider market's 0.37 percent gain.

Heavy machinery and engineering-focused Doosan Group said earlier in June it would raise 780 billion won through the sale of stakes in affiliates, adding that the actions resolved the issue of financial burden from its previous major acquisition in 2007.

The group's flagship unit, Doosan Infracore Co, bought the world's top compact construction equipment firm, Bobcat, and two other units from U.S. conglomerate Ingersoll-Rand for $4.9 billion in cash in 2007. ($1=1264.2 Won) (Reporting by Rhee So-eui; Editing by Ken Wills)