India's Videocon wins race for Daewoo Electronics

IndiaÆs Videocon - bidding with US private equity fund Ripplewood - is to buy Korea's Daewoo Electronics, for around $650-700 million.

IndiaÆs Videocon Industries has made the winning bid for Daewoo Electronics, at a price estimated at $650-700 million. The acquisition of the South Korean company is being made with US private equity fund Ripplewood Holdings and could be India's largest private sector cross-border acquisition, eclipsing a recent Tata transaction.

Videocon is a key player in IndiaÆs consumer electronics industry. As per Prime Broking research dated July 27, 2006 Videocon is expected to announce a turnover of around Rs114 billion $2.5...

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